BNS agrees to transfer its Latin American banking arms to Davivienda for a roughly 20% stake. This aligns with the bank's efforts to boost efficiency.

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In return for the transfer of operations, Scotiabank will gain around a 20% stake in Colombia lender Davivienda.

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(TSX: BNS), commonly known as Scotiabank, announced an agreement to transfer its banking operations in Colombia, Costa Rica, ...

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