Post by mangomoney on Sept 7, 2016 10:56:44 GMT 7
Scotiabank shelves TBank divestment
Frail global economy snag for Canadian lender
Published: 7/09/2016 at 05:00 AM
Newspaper section: Business
Bank of Nova Scotia (Scotiabank), Canada's third largest lender by assets, has shelved plans to sell up to a 49% stake in Thanachart Bank (TBank) because of the fragile global economic recovery, according to a source in the banking circle.
With the strict share sale conditions, it will not be easy for Scotiabank to divest its stake in the Thai bank amid the stuttering global economy, the source told the Bangkok Post.
TBank, Thailand's sixth largest commercial bank by assets and the largest car lender, was informed a month ago about the Canadian bank's suspension of the share divestment plan, the source said, adding that TBank's positive earnings were another rationale behind the decision.
more...
www.bangkokpost.com/business/finance/1080088/scotiabank-shelves-tbank-divestment
Frail global economy snag for Canadian lender
Published: 7/09/2016 at 05:00 AM
Newspaper section: Business
Bank of Nova Scotia (Scotiabank), Canada's third largest lender by assets, has shelved plans to sell up to a 49% stake in Thanachart Bank (TBank) because of the fragile global economic recovery, according to a source in the banking circle.
With the strict share sale conditions, it will not be easy for Scotiabank to divest its stake in the Thai bank amid the stuttering global economy, the source told the Bangkok Post.
TBank, Thailand's sixth largest commercial bank by assets and the largest car lender, was informed a month ago about the Canadian bank's suspension of the share divestment plan, the source said, adding that TBank's positive earnings were another rationale behind the decision.
more...
www.bangkokpost.com/business/finance/1080088/scotiabank-shelves-tbank-divestment
