Scotiabank Said to Consider Sale of Puerto Rico Banking Unit
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Bank of Nova Scotia, Canada’s third-largest lender by assets, is weighing a sale of its Puerto Rican banking unit that is valued at about $600 million, according to people familiar with the matter.
The Toronto-based lender is in the early stages of exploring strategic options for Scotiabank de Puerto Rico that could include selling it to a private-equity firm or other lender in the region, said the people, who asked not to be identified because the matter is private.