Topic: How To Invest

The Successful Investor Hotline – Friday, June 26, 2020

Article Excerpt

BANK OF NOVA SCOTIA, $54.44, Toronto symbol BNS, is a buy. The bank has agreed to sell its operations in Belize. That business operates nine bank branches, along with ATMs, in the Central American nation. It also offers online banking services. The buyer, Caribbean Investment Holdings Ltd., will pay $30.5 million U.S. However, that price could increase to $35.0 million U.S. depending on certain conditions. To put those figures in context, Bank of Nova Scotia earned $1.37 billion, or $1.04 a share, in the three months ended April 30, 2020. The bank expects to complete the transaction within the next year. The sale is part of Bank of Nova Scotia’s long-term for its international operations; namely, to focus on four key Latin American markets. They are Peru, Chile, Mexico and Colombia, and all have favourable demographics. They have a large percentage of their population under 30 years old; their middle class is growing; and their economies are expanding. Those factors should spur demand…

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