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Friday, January 29th, 2016  |  USD: Buy 531.29 / Sell 543.92
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Scotiabank considering bid for Citigroup Costa Rica, Panama: report

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May 22nd, 2015 (InsideCostaRica.com) Scotiabank is considering a bid to purchase Citigroup, Inc.’s consumer-banking units in Costa Rica and Panama, Bloomberg reported on Friday.

 

The businesses could be valued around $1.1 billion in a possible sale, a person “with knowledge of the matter” told Bloomberg.

 

Citigroup was previously in talks to sell its retail businesses in Costa Rica, Panama, El Salvador, Guatemala, and Nicaragua to Spain’s Banco Popular Espanol, though talks broke off in March.

 

Scotiabank completed the purchase of Citigroup’s retail and commercial banking operations in Peru earlier this month, in a deal that included some 130,000 customers, according to Bloomberg.

 

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  • Toby Tune

    Citi Group bought out Cuscatlan with the tax payer’s bailout money. Then
    they closed up shop. ScotiaBank is very hard to deal with. If you want a
    loan you have to deposit the same amount into a savings account. If
    your credit card is falsely charged, the will take 6 months to determine
    if it is illegal and charge you interest while the investigation is on
    going. Stay away from them.

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