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Customers queue up at a Standard Chartered Bank branch in the central business district of Singapore.
Customers queue up at a Standard Chartered Bank branch in the central business district of Singapore.
(EDGAR SU/REUTERS)

Scotia Chartered? Citi makes case for huge purchase

There’s plenty of chatter that London-based Standard Chartered PLC may be sold, and Citigroup analysts are now making a case that Bank of Nova Scotia would be a logical buyer.

Such a transaction would make Scotiabank, which already bills itself as Canada’s most international bank, far larger in emerging markets. Standard Chartered is big in areas such as Asia and Africa, and the two lenders combined would get most of its business outside Canada. It would also make Scotiabank the largest bank headquartered in Canada, vaulting past Royal Bank of Canada and Toronto-Dominion Bank.