Bank of Nova Scotia pulls out of 9 Caribbean markets

() has struck an agreement to sell its banking operations in nine Caribbean countries as it looks to pare back its presence in certain parts of the globe.

The countries where Canada’s third-biggest lender will offload its banking operations to Trinidad & Tobago-based Republic Financial Holdings Limited are Anguilla, Antigua, Dominica, Grenada, Guyana, St. Kitts & Nevis, St Lucia, St Maarten and St Vincent & the Grenadines. The sale price is C$123 million.

On top of this, said on Tuesday that its subsidiaries in Jamaica and Trinidad and Tobago will enter into a 20-year distribution agreement with Sagicor Financial Corporation through which a suite of insurance products underwritten by Sagicor will be offered to customers in Jamaica and Trinidad & Tobago.


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