ScotiaBank sold its Dominican insurance and pension fund operations to Grupo Rizek.

ScotiaBank, Canada's international bank and a leading financial services provider, sold its Dominican insurance and pension fund operations to Grupo Rizek, one of the largest and most prominent diversified business groups in the Dominican Republic with a long-standing, solid reputation in agribusiness and the financial services industry. Financial terms were not disclosed. "This transaction represents the Group's commitment to the country's economic growth, confirms its confidence in the financial stability of the Dominican economy, and contributes to a dignified retirement for our customers," said Grupo Rizek representative Héctor José Rizek Sued.