💵 Scotiabank And Davivienda Receive Regulatory Approvals for Transfer of Scotiabank's Banking Operations in Colombia, Costa Rica and Panama

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Friday, 05 December 2025 03:55.PM

Scotiabank and Davivienda announced today that all required regulatory approvals have been received for completion of the transfer of Scotiabank's banking operations in Colombia, Costa Rica, and Panama to Davivienda. The combined operations of both institutions will operate under a new holding company, Davivienda Group.

As previously announced on January 6, 2025, Scotiabank entered into an agreement with Davivienda providing for the transfer of the above referenced banking operations in exchange for an approximate 20% ownership stake in Davivienda Group.

Scotiabank and Davivienda will work together to enable a smooth transition for clients and employees in these countries.

SOURCE: Scotiabank

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