Scotiabank Now The
Largest Private Bank in
Costa Rica
Scotiabank officially
completed its
integration of
Corporación Interfin
making it the largest
private bank in the
country, with more
branches and personnel
to serve its customers.
Scotiabank, calling
itself "Un mejor bano
para Costa Rica" (a
better bank for Costa
Rica) yesterday
completed the merger
after purchasing Banco
Interfin last year for
us$300 million dollars,
converting Interfin's 25
branches to the
Scotiabank brand.
The completion of the
merger was to have taken
places several months
back, however, delays in
getting their new
operating system in
place pushed back the
merger to the beginning
of September and the to
October 1.
Scotiabank has now moved
into the Interfin's
headquarters on the
north side of the Sabana
Park, as the Interfin
name and the blue logo
replaced by the red used
by Scotiabank.
Interfin customers were
introduced to the Scotia
brand of banking several
months ago as all
Interfin branches were
remodelled and the
Scotia name covered by
temporary signs
indicating that the bank
was still Interfin.
Scotiabank entered the
Costa Rican market in
1995 with its head
office on Avenida 3,
diagonal to the Correos
and overshadowed by the
Banco Nacional office
tower.
With the merger, Scotia
now operates 42 branches
and 80 ATM's across the
country with a staff of
1.300.
Luis Liberman, founder
of Interfin and now
Scotiabank's Costa Rica
manager, said yesterday
that the merger is a
very important moment in
the history of private
banking in Costa Rica
and the bank plans to
add more branches and
more staff in the next
five years. |
