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.
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