💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

BRIEF-Scotiabank Sells Operations In Puerto Rico And U.S. Virgin Islands To Oriental Bank

Published 2019-06-26, 04:33 p/m
© Reuters.  BRIEF-Scotiabank Sells Operations In Puerto Rico And U.S. Virgin Islands To Oriental Bank
BNS
-

June 26 (Reuters) - Bank of Nova Scotia BNS.TO :

* PRESS RELEASE - SCOTIABANK ANNOUNCES THE SALE OF ITS OPERATIONS IN PUERTO RICO AND THE U.S. VIRGIN ISLANDS TO ORIENTAL BANK, A SUBSIDIARY OF OFG BANCORP

* BANK OF NOVA SCOTIA - AS A RESULT OF ANNOUNCED DEAL AND AS REQUIRED UNDER IFRS, BANK WILL RECORD A LOSS OF APPROXIMATELY $400 MILLION AFTER-TAX IN Q3

* BANK OF NOVA SCOTIA - MAJORITY OF THIS LOSS REPRESENTS CARRYING VALUE OF GOODWILL RELATING TO PUERTO RICO

* BANK OF NOVA SCOTIA - UPON DEAL CLOSING, AFTER-TAX GAIN OF ABOUT $50 MILLION WILL BE RECORDED RELATING TO ACCUMULATED FOREIGN CURRENCY TRANSLATION GAINS, OTHER

* BANK OF NOVA SCOTIA - WITH THIS DEAL "REPOSITIONING OF OUR INTERNATIONAL FOOTPRINT WILL BE SUBSTANTIALLY COMPLETE"

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.