Scotiabank considering options for its 49 per cent stake in Thailand's TBank

TORONTO -- Scotiabank says its strategic plans for the Asia Pacific region are shifting and the bank is considering options for its investment in a Thai bank.

See Full Article

The Canadian bank says it hasn't made a final decision on its 49 per cent in TBank, formerly known as Thanachart Bank Public Company, which has its headquarters in Bangkok.

Scotiabank says its Thai partner in TBank is aware of the review and open to proposals.

The partnership was formed in 2007, when Scotiabank (TSX:BNS) acquired a quarter-interest in TBank -- later increased to just under 49 per cent.

The bank's announcement provided few details about the strategic shift it expects, except that its global banking and markets business line would re-align its regional operations.

Scotiabank has a wide array of investments outside of Canada, predominantly in Latin America and the Asia-Pacific region.



Advertisements

Latest Economic News

  • Competition Bureau reaches settlement with Leon's and the Brick

    Economic CTV News
    OTTAWA - The Competition Bureau says it has reached an agreement with Leon's Furniture Ltd. and the Brick Ltd. regarding allegations of deceptive marketing practices. As part of the settlement, Leon's and the Brick have agreed to each donate $750,000 worth of home furnishings over two years to charities to be approved by the regulator. Source
  • Competition Bureau settles with Leon's, The Brick over marketing practices

    Economic CBC News
    The Competition Bureau says it has reached an agreement with Leon's Furniture Ltd. and the Brick Ltd. regarding allegations of deceptive marketing practices. As part of the settlement, Leon's and The Brick have agreed to each donate $750,000 worth of home furnishings over two years to charities to be approved by the regulator. Source
  • Pipeline backlogs to cost Canadian economy $10.7B this year: Scotiabank

    Economic CTV News
    CALGARY -- Delayed oil pipeline construction is causing a steep discount for Canadian crude prices that is costing the economy roughly $15.6 billion a year or about 0.75 per cent of GDP, according to Scotiabank. Source
  • Don't fall for the staging: Real estate expert on how to avoid rookie buyer mistakes

    Economic CTV News
    Being a first-time home buyer without guidance from qualified professionals is like using the internet to diagnose a serious illness -- it’s not going to end well. That’s the advice Toronto real estate agent and industry expert Karyn Filiatrault gives to millennials looking to enter the housing market. Source
  • Trump government expected to defend tariffs on Canadian solar modules in court

    Economic CBC News
    President Donald Trump's decision to hit imports of Canadian solar energy modules with staggering tariffs, starting this month, has sparked another court battle over the extent of his powers to push through his America First agenda. Source
  • Trump administration expected to defend tariffs on Canadian solar modules in U.S. trade court

    Economic CTV News
    TORONTO -- U.S. President Donald Trump's decision to hit imports of Canadian solar energy modules with staggering tariffs, starting this month, has sparked another court battle over the extent of his powers to push through his America First agenda. Source
  • Canadian wholesale sales fall for first time in three months

    Economic CBC News
    Canadian wholesale sales fell surprisingly for the first time in three months in December as sales in five of the seven sectors tracked marked declines. Wholesale sales were down 0.5 per cent to $63 billion in the month - well below economists' forecast of a 0.4 per cent increase. Source
  • Hundreds of KFC outlets in U.K. closed amid chicken shortage

    Economic CTV News
    LONDON -- Chicken is still as scarce as hen's teeth at KFC's British outlets. KFC says about 470 of the fried chicken chain's 900 U.K. restaurants remained closed Tuesday because of a chicken shortage. Source
  • Thomson Reuters CEO expected to make full recovery from heart issue

    Economic CBC News
    Thomson Reuters Corp. said on Tuesday chief executive officer Jim Smith is in stable condition after an arrhythmia incident on Feb. 12 and is expected to be released from hospital within the next two weeks. Last week, the company said Smith was taken to a Toronto hospital after feeling unwell and was under observation at the hospital. Source
  • Hamilton considering legislation to limit number of payday loan outlets

    Economic CTV News
    City of Hamilton councillors are set to vote Tuesday on a motion to limit the number of payday loan outlets in the city, after accusations of "predatory" behaviour from activists. The radial separation legislation before council is aimed at keeping payday loan companies from targeting low-income communities, whose members often turn to the high-interest businesses in desperation, but fall further into debt because of the high interest rates and fees that come with the loans. Source