Scotiabank completed the acquisition of a 68.19% stake in the Chilean business of BBVA for $2.2bn.

Scotiabank, a multinational banking company, completed the acquisition of a 68.19% stake in the Chilean business of BBVA, a financial services group, for $2.2bn. "This acquisition allows us to create a leading bank in Chile underpinned by a solid risk culture and provides opportunities to accelerate our digital transformation, while building a high performance team," Ignacio Deschamps, Scotiabank Group Head, International Banking and Digital Transformation.