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BRIEF-Scotiabank To Sell Banking Operations In 9 Non-Core Markets In Caribbean To Republic Financial

Published 2018-11-27, 06:57 a/m
© Reuters.  BRIEF-Scotiabank To Sell Banking Operations In 9 Non-Core Markets In Caribbean To Republic Financial
BNS
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Nov 27 (Reuters) - Bank of Nova Scotia BNS.TO :

* SCOTIABANK ANNOUNCES NEW PARTNERSHIP TO DELIVER ENHANCED INSURANCE SERVICES IN JAMAICA AND TRINIDAD & TOBAGO AND TO REFOCUS ITS CARIBBEAN OPERATIONS BY DIVESTING OPERATIONS IN 9 COUNTRIES

* BANK OF NOVA SCOTIA - AGREEMENT TO SELL ITS BANKING OPERATIONS IN 9 NON-CORE MARKETS IN CARIBBEAN TO REPUBLIC FINANCIAL HOLDINGS LIMITED

* BANK OF NOVA SCOTIA - TRANSACTIONS ARE NOT FINANCIALLY MATERIAL TO SCOTIABANK

* BANK OF NOVA SCOTIA - SCOTIABANK JAMAICA AND SCOTIABANK TRINIDAD & TOBAGO HAVE ENTERED INTO AGREEMENTS TO SELL THEIR RESPECTIVE INSURANCE SUBSIDIARIES

* BANK OF NOVA SCOTIA - COMMON EQUITY TIER ONE CAPITAL RATIO WILL INCREASE BY ABOUT 10 BASIS POINTS ON CLOSING OF TRANSACTIONS

* BANK OF NOVA SCOTIA - IMPACTED EMPLOYEES OF SCOTIABANK IN 9 COUNTRIES PART OF DIVESTITURE WILL JOIN REPUBLIC GROUP

* BANK OF NOVA SCOTIA - IMPACTED EMPLOYEES OF SCOTIA JAMAICA LIFE INSURANCE, SCOTIALIFE TRINIDAD AND TOBAGO TO JOIN SAGICOR/NEW INSURANCE SALES ENTITY

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