Last Tuesday, May 7, Scotiabank announced the sale of its financial institution dedicated to consumer credit CrediScotia to the Santander bank. This occurred after both banks reached an agreement for an amount, which has not yet been revealed. The sale was completed weeks after Scotiabank CEO Scott Thomson pointed out that the bank was not going to withdraw from Peru.
For the sale of CrediScotia to the bank Santanderapproval is expected from the Superintendence of Banking, Insurance and AFP (SBS) and of National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi). At the international level, approval by the European Central Bank as a regulatory entity. Scotiabank He assured that the decision to sell its finance company is part of a broader strategy to optimize its operations and guarantee its long-term sustainability.
After the sale of CrediScotia: Will Scotiabank leave Peru?
As recalled, less than a month ago, the Diario Financiero Sud of Chile (DF-SUD) had indicated that the company based in Canada would sell its stake in Peru. This following the statement offered by the president and global CEO of Scotiabank, Scott Thomson, who would have indicated that the bank would put all its efforts into improving its connection between the United States, Mexico and Canada. Thus, Scotiabank he would have planned his departure from Peru, Colombia and Chile.
Given the increase in uncertainty in these countries about the continuity of Scotiabankit was his own Scott Thomson the fact that denied these rumors and specified that his stay in these countries is relevant for this financial institution.
“I want to make it very clear: Chile and Peru (…) are extremely important franchises for us. We are the third largest bank in both countries. We have an incredible team. We have an incredible opportunity in front of us, but we have to manage those businesses differently. We have to close the gap between the best in class and they have enough capital to do it,” Thomson said.
It should be noted that these statements were made before the announcement of the purchase of CrediScotia by the Spanish bank. Santander.
Banco Santander: where are you from and what banking sector do you focus on?
He Santander Bank It is one of the largest financial institutions in Spain and has a significant presence in Latin America. With the acquisition of CrediScotia, the Spanish bank strengthens its position in the Peruvian market. According to Juan Pedro Oechsle, Country Head of Santander Peru, they are happy with the purchase of a leading company in the consumer credit market.
“(The purchase) will allow us to develop in the Peru the global business model of Digital Consumer Bank and serve Peruvian families with the highest quality standards in their financing and investment needs for their surplus resources,” he said. Juan Pedro Oechsle.
Source: Larepublica
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