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Scotiabank and Davivienda Receive Regulatory Approvals for Transfer of Scotia's Banking Ops in Colombia, Costa Rica and Panama
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Scotiabank and Davivienda Receive Regulatory Approvals for Transfer of Scotia's Banking Ops in Colombia, Costa Rica and Panama
Nov 24, 2025 5:07 AM

07:38 AM EST, 11/24/2025 (MT Newswires) -- Scotiabank (BNS.TO and BNS) and Davivienda announced Monday 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 referenced banking operations in exchange for an approximate 20% ownership stake in Davivienda Group.

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