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Scotiabank and Davivienda Receive Regulatory Approval for Deal
Scotiabank trades retail branches for a 20% stake in Davivienda Group, which will manage $60 billion in assets across Colombia and Central America, serving 27.4 million customers.
- Nov. 24, 2025, Scotiabank received regulatory approval to transfer its retail operations in Colombia, Costa Rica and Panama to Davivienda, The Canadian Press reported.
- To sharpen its focus, Scotiabank announced the swap in January, saying the move was part of its plan to improve profitability while exchanging retail networks for about 20 per cent in the enlarged group.
- Together the banks reach roughly 27.4 million customers, and Davivienda Group will control about $60 billion in assets, with assets growing roughly 40 percent.
- Ensuring continuity, the banks will oversee the client and employee transition as retail customers may gradually see new products, digital tools, and companies gain bigger credit lines.
- The deal positions Davivienda as a larger multilatina, with about 70 percent of the balance sheet in Colombia and significant asset rises in Costa Rica and Panama.
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How One Colombian Bank Became A $60 Billion Central American Powerhouse
If you live or do business in Colombia, Costa Rica or Panama, your bank just changed more than its logo. Davivienda, a Colombian lender that started as a local player, is taking over Scotiabank’s retail operations in those three countries, after regulators in all jurisdictions signed off. The new structure, Davivienda Group, will control about […]
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Coverage Details
Total News Sources16
Leaning Left5Leaning Right1Center2Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 25%
12%
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