The Successful Investor Hotline – Friday, July 17, 2015

Article Excerpt

BANK OF NOVA SCOTIA, $64.37, Toronto symbol BNS, is paying an undisclosed sum to Citigroup (New York symbol C) for its retail-banking operations in Panama and Costa Rica, including 27 branches. The bank expects to close the deal in the next few months. The move will nearly triple its customer base in these two countries, from 137,000 to 387,000. It will also make Bank of Nova Scotia the second-largest credit card provider in both nations, with 18% of the market in Panama and 15% in Costa Rica. The bank entered Panama in 1974 and Costa Rica in 1995. This long history cuts the risk of expanding in these countries. Bank of Nova Scotia is a buy. Bank of Nova Scotia was recently covered in the July 2015 issue of The Successful Investor. Click here to access it. Bank of Nova Scotia was recently covered in the June 2015 issue of The Successful Investor. Click here to access it. ROYAL BANK OF CANADA, $77.30, Toronto symbol RY,…