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Pedestrians pass by the Scotiabank location near Yonge and Bloor Streets in Toronto in this file photo.
Pedestrians pass by the Scotiabank location near Yonge and Bloor Streets in Toronto in this file photo.
(Kevin Van Paassen/The Globe and Mail)

Scotiabank strikes again in Latin America, buys credit card business

Early in his era, Brian Porter laid out exactly where investors should expect Bank of Nova Scotia to expand. At the top of his list: Latin America and credit cards.

Late Friday, Mr. Porter, Scotiabank’s recently minted chief executive officer, announced plans to acquire 51 per cent of Cencosud S.A.’s financial services business in Chile – a purchase that ticks both boxes.