Scotiabank to sell Puerto Rico, U.S. Virgin Islands assets to OFG Bancorp [Business News Network (BNN) Energy & Resources (Canada)]
Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Last bank nova scotia halifax pfd 3 ordinary shares earnings: 2/25 05:30 am
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seekingalpha.com/article/4128193-bank-nova-scotias-bns-ceo-brian-porter-q4-2017-results-earnings-call-transcript
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Source: Business News Network
Scotiabank to sell Puerto Rico, U.S. Virgin Islands assets to OFG Bancorp TORONTO - The Bank of Nova Scotia ( BNS.TO ) says it has reached a deal to sell its operations in Puerto Rico and the U.S. Virgin Islands to Oriental Bank, a subsidiary of OFG Bancorp. OFG Bancorp says it is acquiring the Toronto-based bank's Puerto Rico operation for $550 million in cash, and Scotiabank's U.S. Virgin Island branch operation for a $10 million deposit premium. Scotiabank says that as a result of the transaction, as per accounting standards, the lender will record a loss of approximately $400 million after-tax in its financial third quarter of 2019. Under the deal, which is subject to approvals, Scotiabank's operations in both markets will be merged into the Puerto-Rico based bank and its related businesses. Scotiabank has announced its exit or its intention to exit 19 countries in the past four years, including the divestment of its banking operations in nine Caribbean countries, as part of its s
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BNS
Earnings
- 2/27/24 - Beat
BNS
Sec Filings
- 4/24/24 - Form 424B2
- 4/24/24 - Form 424B2
- 4/24/24 - Form 424B2
- BNS's page on the SEC website