Transaction|March 3, 2021

Scotiabank announces the sale of its operations in Guyana

Torys acted as counsel to Scotiabank with a team led by (Ricco) A.S. Bhasin and that included Ebad Rahman, Na Fan and Anthony Bishop (corporate/M&A), Jill McCutcheon and Melissa Prado (financial services regulatory) and Andrew Silverman (tax).

On March 3, 2021, Scotiabank announced that it reached an agreement with First Citizens Bank Limited (“First Citizens”) for the sale of its banking operations in Guyana.

The agreement is subject to regulatory approval and customary closing conditions.

Further information can be found on Scotiabank’s website.

Scotiabank is a leading bank in the Americas, helping 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.

First Citizens is one of the leading financial services groups in the English-speaking Caribbean. Headquartered in Trinidad and Tobago, it offers a full range of retail, corporate and investment banking services as well as wealth management, trustee and brokerage services to clients through its operations in Barbados, Costa Rica, St. Lucia, St. Vincent and the Grenadines and Trinidad and Tobago.