Scotiabank eyes capital savings following divestments
Wind down of overseas investments expected to increase CET1 capital ratio by 50bp
By retreating from investments in non-core regions, Canadian lender Scotiabank expects to plump up its Common Equity Tier 1 (CET1) capital ratio by around 50 basis points in the coming quarters to 11.7%.
The firm stated in earnings for end-July that it had finalised plans to sell its interest in Thai lender TBank for cash and shares in TMB Bank, which is merging with TBank. Scotiabank said it expects to net C$300 million ($226 million) from the deal and a CET1 ratio uplift of 25bp.
It is also
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