Scotiabank, Enel form financial firm in Colombia

Scotiabank, Enel form financial firm in Colombia

Corporate & Sovereign Strategy Economy & Policy ESG Capital Markets Colombia

Scotiabank Colpatria, the Colombian branch of Canada's Scotiabank, and Codensa, the local subsidiary of Italian energy company Enel, said Friday that they received regulatory approval to form a new financial services firm in Colombia. Scotiabank will 51% of Crédito Fácil Codensa, as the new company is called, and Enel will have 49%. The two companies put in COP32 billion ($9.15 million) into the new company as starting capital. Scotiabank and Enel have offered consumer loans that are collected t

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