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THE BANK OF NOVA SCOTIA

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Bank of Nova Scotia Lifts Ownership of Chile Arm for About C$500 Million

05/03/2021 | 09:12am EDT

By Robb M. Stewart

Bank of Nova Scotia agreed to buy an additional 7% stake in its Chilean operations for about 500 million Canadian dollars (US$407.15 million), boosting its ownership to 83%.

The Canadian lender said Monday it would buy the stake from the Said family, and when completed the deal would affect its common equity Tier 1 capital ratio by about 8 basis points.

In 2018, Scotiabank increased its presence in Chilean markets with the acquisition of a roughly 68% interest in BBVA Chile owned by Banco Bilbao Vizcaya Argentaria SA. With the deal, it reached an agreement with the Said family to remain invested in BBVA Chile with a close to 25% interest in the merged banking operation there.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

05-03-21 0911ET

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Financials
Sales 2021 31 590 M 26 040 M 26 040 M
Net income 2021 8 491 M 6 999 M 6 999 M
Net Debt 2021 - - -
P/E ratio 2021 12,0x
Yield 2021 4,43%
Capitalization 96 382 M 79 370 M 79 448 M
Capi. / Sales 2021 3,05x
Capi. / Sales 2022 2,93x
Nbr of Employees 89 808
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 80,19 CAD
Last Close Price 79,43 CAD
Spread / Highest target 19,6%
Spread / Average Target 0,96%
Spread / Lowest Target -10,6%
EPS Revisions
Managers and Directors
NameTitle
Brian Johnston Porter President, CEO & Non-Independent Director
Rajagopal Viswanathan Chief Financial Officer & Executive Vice President
Aaron William Regent Chairman
Michael Zerbs Group Head-Technology & Operations
Ashley Veasey Global CIO-Business Technology & Executive VP
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