Chile's Best
Bank and Latin America's Best Bank
Transformation awarded to Scotiabank
TORONTO, July 15, 2020 /CNW/ - Scotiabank's success as a
leading bank in the Americas was further established today with two
new accolades from Euromoney. The Bank won two of the global
magazine's 2020 Awards for Excellence—Chile's Best Bank, and
Latin America's Best Bank
Transformation for the integration of Scotiabank Chile with the
local operation of BBVA.
"We are delighted to receive this recognition from Euromoney for
our accomplishments in Chile and
Latin America," said Brian Porter, President & Chief Executive
Officer. "These awards are evidence that our focus on becoming a
leading Bank in the Americas continues to serve us well against a
very challenging backdrop. Scotiabank remains confident,
optimistic, and positioned for success."
Scotiabank is the only Canadian bank with a significant presence
in all the major countries in the Americas corridor: Canada, the United
States, Mexico,
Peru, Chile and Colombia. After the acquisition of BBVA,
Scotiabank Chile is the third-largest Chilean bank by loans.
"We executed the fastest and most effective integration process
in the history of the Chilean financial market. We were able to
continue increasing our market share and profitability while
successfully servicing our clients during this period. This was an
unprecedented milestone in the local financial industry," said
Francisco Sardón, Executive Vice President and Country Head,
Scotiabank Chile.
Scotiabank's 2018 acquisition of BBVA Chile doubled its market
share in one of the fastest growing countries in Latin America. This integration process took
just 18 months—a record for the Chilean financial system.
"Our acquisition of BBVA Chile has helped position us to achieve
even more in the future," said Nacho Deschamps, Group Head,
International Banking and Digital Transformation. "This successful
integration means that we are able to bring the benefits of scale
and digital solutions to deliver a better banking experience to our
customers."
Scotiabank is well-positioned to continue growing and increasing
market share in its core jurisdictions. It has simplified its
geographic footprint and operations, and today the Bank is located
in markets with favourable demographics and strong institutions,
has more reliable and stable earnings, and is effectively
leveraging its global presence.
Quick Regional Facts
- Scotiabank has more than 3 million customers, approximately
9000 employees (including subsidiaries), and more than 160 branches
in Chile.
- Scotiabank completed the purchase of a majority stake in BBVA
Chile in July 2018.
- Scotiabank's six core markets—Canada, the United States, Mexico, Peru,
Chile and Colombia—now represent
more than 87 per cent of Scotiabank's earnings, with 95 per cent of
earnings coming from the Americas.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future," we help our customers,
their families and their communities achieve success through a
broad range of advice, products and services, including personal
and commercial banking, wealth management and private banking,
corporate and investment banking, and capital markets. With a team
of approximately 97,000 employees and assets of over $1.2 trillion (as at April
30, 2020), Scotiabank trades on the Toronto Stock Exchange
(TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more
information, please visit our website and follow us on
Twitter @ScotiabankViews.
SOURCE Scotiabank