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Bullboard - Stock Discussion Forum Bank of Nova Scotia T.BNS

Alternate Symbol(s):  BNS

Financial Services Banks - Global
The Bank of Nova Scotia (the Bank) is a Canadian chartered bank. The Bank's segments include Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. The Canadian Banking segment provides a full suite of financial advice and banking solutions. The International Banking segment is a diverse franchise offering financial advice and solutions to... see more

TSX:BNS - Post Discussion

Bank of Nova Scotia > Scotiabank wins regulatory approval for 2nd phase of KeyCorp
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Post by zack50 on Dec 13, 2024 8:36am

Scotiabank wins regulatory approval for 2nd phase of KeyCorp

Scotiabank says it has received regulatory approval to clear the way for the second phase of its investment in U.S. bank KeyCorp.

The big Canadian bank says the approval came from the board of governors of the U.S. Federal Reserve System.

Scotiabank announced in August a plan to acquire a 14.9 per cent stake in KeyCorp for about US$2.8-billion in a two-step process.

The initial investment for a 4.9 per cent stake was completed on Aug. 30.

Scotiabank says it now expects to close the second phase for an additional 10 per cent stake in 2024.

KeyCorp operates in 15 states, with about 1,000 branches offering commercial and retail banking and investment advice and services.

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