Davivienda Integrates Scotiabank's Banking Operations In Panama -

(MENAFN- Newsroom Panama) The integration of Scotiabank's operations in Panama and Banco Davivienda marks a historic event in the Panamanian financial system; clients, both personal and corporate, investors, small and medium-sized enterprises, will receive greater benefits and an expanded range of financial solutions. As has been reported in recent days, following regulatory approvals, Davivienda Group has taken control of Scotiabank's operations in Costa Rica, Colombia, and Panama. “Davivienda Panama is a bank that connects Central America and Colombia, and that allows us to support the growth of companies while providing people with a value proposition distinguished by its close, timely and exceptional service,” said Javier Suárez, president of Davivienda Group.

As part of the aforementioned transaction, Scotiabank acquires a 20% stake in Davivienda Group. With this merger, the group reaches more than 29 million customers in the region. Its assets exceed $60 billion, equivalent to a growth of approximately 37%. Furthermore, the regional structure is consolidated with an asset distribution of 70% in Colombia and 30% in Central America. The International Finance Corporation (IFC) finalized a $150 million investment to acquire 7.09% of Holding Davivienda Internacional SA, strengthening its operations in Central America and its sustainable financing strategy, especially for women-led SMEs and climate projects. At a press conference, the appointment of Joanna Crooks as CEO of Davivienda was also announced.

She has more than 19 years of experience in the international financial sector and has led highly complex regional operations in Central America and the Caribbean. “I enthusiastically assume this role at Davivienda Panama. We will work to continue enriching the lives of Panamanians and the development of their businesses, always acting with integrity and ensuring that our clients receive the best service, the best attention, and the care they deserve,” Crooks stated. Davivienda customers will enjoy a more robust offering that includes, among other advantages: greater ATM coverage and an expanded branch network for withdrawals, money management and banking transactions, a portfolio of credit cards to access a world of benefits with special discounts at a wide network of partner businesses, global financial capabilities, boosting their international operations, among others.

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