The deal adds the country’s largest private bank, the largest leasing company in central America, and a significant brokerage business to the Scotiabank platform.
The merger continues Scotiabank’s organic growth in the country. Last year saw the bank add three branches – including a VIP branch for high-value clients – to its network of 17 offices; the Interfin acquisition adds a further 24 branches.
Scotiabank has already built on the leasing business, now called ScotiaLeasing, to create a platform for the only regional leasing company in central America. It has expanded its market share in the region with partnerships that diversify risk and provide access to attractive and growing segments. Recently, it opened operations in Guatemala and acquired 100% of Finarca, a leasing company in Nicaragua.
“This award recognises our service quality, our banking excellence and the profit made during the past 12 months,” says Dr Luis Liberman, senior vice-president and general manager at Scotiabank Costa Rica. “It also motivates our great team of employees, who are committed with our philosophy of doing the best for our customers and the community in which we operate.”
