Financial institution Oriental announced that starting at noon today, it will begin its integration of the former Scotiabank platform. The process will take place over the weekend and will be completed at 8:30 a.m. Monday, bank officials said. To achieve the migration, former Scotiabank branches will be closed Saturday and Sunday, it was further announced. […]
OFG Bancorp announced it has received final regulatory approval and related licenses from the U.S. Virgin Islands Banking Board required for its subsidiary, Oriental Bank, to close the previously announced acquisition of Scotiabank’s USVI operations. The approval comes less than a week after the financial institution announced it had received the OK from the Board […]
OFG Bancorp announced it has received the OK from the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and the Puerto Rico Office of the Commissioner of Financial Institutions needed so that its banking subsidiary, Oriental Bank, may complete the acquisition of the local and U.S. Virgin Islands operations of Scotiabank. […]
Puerto Rico’s Office of Financial Institutions Commissioner George Joyner said although the deal is pending regulatory approvals, he sees “no major obstacle” for Oriental’s acquisition of Scotiabank de Puerto Rico’s assets to happen. In an interview on the “En Una Hora” program that airs on 11Q 1140 AM, in which News is my Business participates, […]
OFG Bancorp announced it has filed applications at four regulatory agencies for consent of its proposed acquisition of Scotiabank de Puerto Rico, according to public notices published Tuesday. The petitions to the Federal Reserve, the Federal Deposit Insurance Corp., the Puerto Rico Office of the Commissioner of Financial Institutions and the U.S. Virgin Islands Banking […]
OFG Bancorp, parent company of Oriental Bank, announced the Virgin Islands Banking Board approved the first regulatory step related to the acquisition of Scotiabank’s U.S. Virgin Island operations. The permit authorizes Oriental to organize a bank in the territory. To assume Scotiabank’s operations and start serving customers in the USVI, Oriental will also need a license and approval from […]
OFG Bancorp’s subsidiary Oriental Bank will acquire Scotiabank’s Puerto Rico operation for $550 million and its U.S. Virgin Island branch operation for $10 million. Scotiabank’s Puerto Rico and USVI operations will be merged into Oriental Bank and its related businesses. The acquisition is subject to customary regulatory approvals, which will likely take about six months […]
The Bank of Nova Scotia, parent company of Scotiabank de Puerto Rico, has sued the government’s Metropolitan Bus Authority for defaulting on some $32 million in a revolving credit and term loan agreement. Furthermore, the bank has asked the San Juan Superior Court to issue an order for a “provisional embargo and prohibition of alienation […]
Scotiabank is the first Canadian bank to ever receive the “Bank of the Year” award from LatinFinance.
Scotiabank has submitted a binding offer to acquire Banco Bilbao Vizcaya Argentaria, S.A.'s (BBVA) shares in BBVA Chile, which BBVA is willing to accept if BBVA's minority partner, the Said family, does not exercise its Right of First Refusal under the shareholders agreement between BBVA and the Said family, Scotiabank announced.
Five weeks after Hurricane María pummeled Puerto Rico, about 72.6 percent of local bank branches, or 228, have resumed operations, according to data from the Office of the Financial Institutions Commissioner.
Scotiabank Puerto Rico on Wednesday filed a complaint against the government of Puerto Rico to prevent the diversion and expropriation of certain tax revenue pledged as collateral to secure a loan the bank extended to the Metropolitan Bus Authority.
Puerto Rico’s commercial banks will be observing today’s Martin Luther King holiday with special hours, scheduled as follows:
As part of an initiative to promote exports of local products, Economic Development Bank President Joey Cancel-Planas announced Wednesday the signing of a partnership with Scotiabank Puerto Rico to spur international transactions.
Scotiabank is closing its long-time Hato Rey branch, smack in the heart of the Golden Mile, and consolidating it into Scotia Tower on Piñero Ave.
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA