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

  • Asian markets drop as investors look ahead to Trump speech

    Economic CTV News
    BEIJING - Asian stock markets were lower Monday as investors looked ahead to U.S. President Donald Trump's speech to Congress this week for details of promised tax cuts and infrastructure spending. KEEPING SCORE: Tokyo's Nikkei 225 index fell 0.9 per cent to 19,107.47 and the Shanghai Composite Index lost 0.5 per cent to 3,237.14. Source
  • Billionaire industrialist Koch leads fight to deregulate African-style braiding

    Economic CTV News
    PAWTUCKET, R.I. -- The billionaire industrialist Charles Koch and hair braider Jocelyn DoCouto have at least one thing in common. They are both part of a national movement to deregulate the business of African-style braiding. Source
  • What's in your chicken? CBC's Marketplace consumer cheat sheet

    Economic CBC News
    Miss something this week? We've got you. Here's this week's consumer cheat sheet. Get the Marketplace newsletter in your inbox every week. Sign up here. Inflatable mattress (prices) So, that bed you got for a bargain? That deal may be less dreamy than you thought. Source
  • Vatican stakes out copyright to Pope Francis' image

    Economic CTV News
    VATICAN CITY -- God's love may be free, but the Vatican says it has a copyright on the pope. Unnerved by the proliferation of papal-themed T-shirts, snow globes and tea towels around the world, the Vatican has warned it intends to "protect" the image of Pope Francis and "stop situations of illegality that may be discovered. Source
  • Is the Ivanka Trump brand boycott anti-feminist?

    Economic CBC News
    After Nordstrom dropped Ivanka Trump's fashion line this month, a Fox News host blasted women boycotting stores that carry the brand. In an opening rant on her show, Jeanine Pirro called the boycotters "loud, classless women" who were unfairly picking on a fellow female simply because they dislike her dad, U.S. Source
  • Last BlackBerry-designed phone with physical keyboard to hit stores in April

    Economic CTV News
    TORONTO -- Fans of BlackBerry's classic physical keyboard will have reason to celebrate when the last product designed in part by the former smartphone leader becomes available in April. The Waterloo, Ont.-based firm played a role in developing the KEYone, named for the return of the QWERTY keyboard that other smartphone designers have mostly long retired. Source
  • Final cleanup begins at Dakota Access pipeline protest camp

    Economic CTV News
    BISMARCK, N.D. -- The U.S. Army Corps of Engineers has moved into the evacuated Dakota Access pipeline protest camp to finish the cleanup started weeks ago by the Standing Rock Sioux Tribe. A Florida-based company has been hired to provide trash removal and environmental cleanup in the main Oceti Sakowin camp on the north side of the Cannonball River and the smaller Rosebud camp on the south side. Source
  • Appealing to millennials, Las Vegas gets e-sports arena

    Economic CTV News
    LAS VEGAS -- The arena has all the features that a professional sports venue needs: stands, warm-up areas for teams, massive screens for spectators and a broadcast platform for commentators. But what distinguishes this new Las Vegas arena is its dozens of video game consoles. Source
  • Warren Buffett says don't waste money on investment fees

    Economic CTV News
    OMAHA, Neb. -- Billionaire Warren Buffett wants investors to be wary of the high fees Wall Street routinely charges because of the damage they do to investment returns, and he emphasized his confident outlook in the U.S. Source
  • 'We always find a way': N.L.'s oil-dependent economy is hurting, but there is hope on the horizon

    Economic CBC News
    Dwight Ball, the affable pharmacist who has been Newfoundland and Labrador's premier for the last 15 months, said something remarkable Wednesday while swinging an axe through several hundred government jobs. "We're human, too. This impacts us," said Ball, who clearly has shown no relish for the more brutal parts of dealing with an oil-dependent economy during a collapse in petroleum prices. Source