Bank of Nova Scotia CEO Scott Thomson discusses the bank's new North American strategy. The US already accounts for 10% of the bank's net income, making Scotiabank the 10th largest foreign banking organization in the country. Thomson plans to reallocate capital from Latin America to North America, which offers greater opportunities, particularly in wealth management. He mentioned that the bank has a competitive advantage with its strong presence in Mexico, where it is the fifth largest bank with around 10% market share. He also noted that trade flows between Canada, the USA and Mexico are significant, with $800 billion worth of trade between each country and the USA.

 

 


(MT Newswires)

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