Posted 12/13/2023, 7:14:26 PM
Scotiabank Pivots to North America, Exiting Some Foreign Markets to Focus Closer to Home
- Scotiabank is planning to consolidate operations, exiting some foreign markets to focus on North America
- 90% of capital will go to Canada, Mexico, and the United States
- Chile and Peru will get more scrutiny, Colombia and Central America less funding
- Cyber threats at home may be causing the pivot, with a recent customer losing $5K to an attack
- Analysts have a Hold rating on Scotiabank stock, with limited upside potential