{"id":67625,"date":"2019-03-01T18:19:00","date_gmt":"2019-03-01T22:16:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-scotiabank-completes-acquisition-of-51-of-banco-cencosud-in-peru\/"},"modified":"2019-03-01T19:21:02","modified_gmt":"2019-03-01T23:21:02","slug":"scotiabank-completa-la-adquisicion-del-51-del-banco-cencosud-en-peru","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/scotiabank-completa-la-adquisicion-del-51-del-banco-cencosud-en-peru\/","title":{"rendered":"Scotiabank completes acquisition of 51% of Banco Cencosud in Peru"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p>TORONTO\u00a0and <span class=\"xn-location\">LIMA, Peru<\/span>, <span class=\"xn-chron\">March 1, 2019<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Scotiabank announced today it has successfully completed the acquisition of 51% of the controlling interest of Banco Cencosud after receiving regulatory approval from Peruvian authorities. Scotiabank and Banco Cencosud will jointly manage the credit card operations and offer other products and services to customers in partnership for 15 years. Scotiabank and Cencosud have similar agreements in <span class=\"xn-location\">Chile<\/span> and <span class=\"xn-location\">Colombia<\/span>. With the closing of this acquisition, Scotiabank has become <span class=\"xn-location\">Peru&#8217;s<\/span> second largest credit card issuer.<\/p>\n<p>&#8220;Partnering with Cencosud has been a rewarding process in which we have begun to leverage the potential of the consumer finance business&#8221;, said <span class=\"xn-person\">Miguel Uccelli<\/span>, CEO &amp; Country Head of Scotiabank Peru.&#8221; With this acquisition we have completed one more phase in our strategy to strengthen our consumer financing and credit card business in <span class=\"xn-location\">Peru<\/span>, which aligns with our global vision to increase scale in the countries of the Pacific Alliance; <span class=\"xn-location\">Colombia<\/span>, <span class=\"xn-location\">Chile<\/span>, <span class=\"xn-location\">Mexico<\/span> and <span class=\"xn-location\">Peru<\/span>&#8220;, he concluded. <\/p>\n<p>&#8220;Our objective is to leverage the teams from Banco Cencosud and Scotiabank to build an improved experience for all our customers&#8221;, said <span class=\"xn-person\">Carlos Morante<\/span>, CEO of Banco Cencosud, and who will be in charge of the operation under the new name of\u00a0CAJA CAT PER\u00da. &#8220;Our customers will continue to enjoy the products they have with us, under the same conditions, but with greater support. We will continue operating separately, taking into account the special features of each business and we will continue to work with our current team of employees&#8221;, he said. Morante indicated that no customer has to change their credit cards or other products, &#8220;Everything remains the same&#8221;, he concluded.<\/p>\n<p>Cencosud Peru owns the second-largest supermarket and the fourth-largest department store chain in the country. Cencosud has operated in <span class=\"xn-location\">Peru<\/span> since 2007 through the Wong supermarket brand Metro supermarket and <span class=\"xn-location\">Paris<\/span> department stores. It is also the owner of various shopping malls.<\/p>\n<p><b>About Scotiabank<\/b><\/p>\n<p>Scotiabank is <span class=\"xn-location\">Canada&#8217;s<\/span> international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 98,000 employees<sup>1<\/sup> and assets of over <span class=\"xn-money\">$1 trillion<\/span> (as at <span class=\"xn-chron\">January 31, 2019<\/span>), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit <a target=\"_blank\" href=\"http:\/\/www.scotiabank.com\/\" rel=\"nofollow\">www.scotiabank.com<\/a> and follow us on Twitter @ScotiabankViews.<\/p>\n<p><sup>1<\/sup>Employees are reported on a full-time equivalent basis.<\/p>\n<p><\/p>\n<p>For further information: Media Enquiries: Scotiabank &#8211; <span class=\"xn-location\">Peru<\/span>, <span class=\"xn-person\">Gaby Rodriguez Larrain<\/span>, Manager, Institutional Relations and Corporate Social Responsibility, 2116790, <a href=\"mailto:gabyrodriguezlarrain@scotiabank.com.pe\" rel=\"nofollow\">gabyrodriguezlarrain@scotiabank.com.pe<\/a>; Scotiabank &#8211; International Banking, <span class=\"xn-person\">Janira Walton de Mejia<\/span>, Director, Communications,\u00a0437-221-9672, <a href=\"mailto:janira.walton@scotiabank.com\" rel=\"nofollow\">janira.walton@scotiabank.com<\/a>; Investor Relations \u2013 Scotiabank, <span class=\"xn-person\">Philip Smith<\/span>, Senior Vice President, Investor Relations, 416.863.2866, <a target=\"_blank\" href=\"mailto:Philip.smith@scotiabank.com\" rel=\"nofollow\">Philip.smith@scotiabank.com<\/a><\/p>\n<p><\/p>\n<p>SOURCE  Scotiabank<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p>TORONTO\u00a0and <span class=\"xn-location\">LIMA, Peru<\/span>, <span class=\"xn-chron\">March 1, 2019<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Scotiabank announced today it has successfully completed the acquisition of 51% of the controlling interest of Banco Cencosud after receiving regulatory approval from Peruvian authorities. Scotiabank and Banco Cencosud will jointly manage the credit card operations and offer other products and services to customers in partnership for 15 years. Scotiabank and Cencosud have similar agreements in &lt;span&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-67625","post","type-post","status-publish","format-standard","hentry","category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/67625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=67625"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/67625\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=67625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=67625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=67625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}