Oriental Bank completed the acquisition of Puerto Rico and US Virgin Islands operations of Scotiabank for $550m.

Oriental Bank, a diversified financial institution that provides personal and commercial banking services, completed the acquisition of Puerto Rico and US Virgin Islands operations of Scotiabank for $550m. "We are pleased to have reached an agreement with Oriental Bank, a prominent local bank with a strong reputation for providing high quality products and services to customers. We are confident that Oriental Bank, with the support of a talented team, will be well positioned to continue to grow the businesses and provide continuity to customers and employees in Puerto Rico and the USVI," Ignacio (Nacho) Deschamps, Scotiabank Group Head of International Banking and Digital Transformation.