TORONTO and SANTO DOMINGO,
May 1, 2019 /CNW/ - Scotiabank
announced today that it has completed the previously reported sale
of Scotia Crecer AFP and Scotia Seguros, its pension and related
insurance businesses in the Dominican
Republic, to Grupo Rizek.
Grupo Rizek is one of the largest
and most prominent diversified business groups in the Dominican Republic with a long-standing
reputation in agribusiness and the financial services industry.
"We are pleased and proud to have completed this transaction
with Scotiabank's team, during which we were able to confirm that
the Bank employs the best financial practices and adheres to the
highest local and international standards. We continue to stand
behind our commitment to work responsibly, efficiently and
rigorously for the benefit of the Dominican economy," said Héctor
José Rizek Sued, Grupo Rizek
representative.
"With the closing of this transaction, we have completed one
more phase in the optimization of our international footprint. Our
continued focus is on our key markets and businesses in the Pacific
Alliance countries, the Caribbean
and Central America, where we can
achieve greater scale and deliver the best value for our
customers," added Nacho Deschamps, Group Head of International
Banking and Digital Transformation at Scotiabank.
About Scotiabank
Scotiabank is Canada's
international bank and a leading financial services provider in the
Americas. We are dedicated to helping our more than 25 million
customers become better off 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 more than 98,000
employees and assets of over $1
trillion (as at January 31,
2019), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
Grupo Rizek
Grupo Rizek is one of the largest
and most prominent diversified business groups in the Dominican Republic with a strong presence and
reputation in the agribusiness, energy and financial services
industries. Grupo Rizek has a family
legacy that dates back to 1887, when the Rizek family moved to the
Dominican Republic, and to 1905
when the family started growing, processing and exporting cocoa.
Over the years, Grupo Rizek has
diversified, first into financial services, and more recently, into
the energy and tourism sectors, key for the growing Dominican
economy.
For media enquiries only:
Grupo Rizek
Héctor José Rizek Guerrero
hrizek@gamcapital.com
PH: (809)289-7336 ext. 2080
(809)560-0909
(809)299-2606
Scotiabank
Annie
Cuerrier
Global Communications
annie.cuerrier@scotiabank.com
PH: (437) 236-9693
Janira Walton de Mejia
International Banking Communications
Janira.walton@scotiabank.com
PH: (437) 221-9672
For investor enquiries only:
Philip Smith
Investor Relations, Scotiabank
philip.smith@scotiabank.com
PH: (416) 863-2866
SOURCE Scotiabank