07:12 AM EST, 12/13/2024 (MT Newswires) -- Bank of Nova Scotia ( BNS ) on Friday said it has received regulatory approval from the U.S. Federal Reserve to up its stake in Ohio-based KeyCorp, by an additional 10%, for a total of 14.9%.

Scotiabank had announced last August that it had entered into a US$2.8 billion agreement to acquire a minority stake in the regional bank in two stages -- an initial investment of 4.9% and the additional investment of 10%. The initial investment was completed on Aug. 30.

The bank's shares were last seen down US$0.23, to US$55.02, in New York trade.