TORONTO, and MONTEVIDEO, Uruguay, Feb. 4 /CNW/ - Scotiabank today announced it has closed the transaction to purchase Pronto!, Uruguay's third-largest consumer finance company. The acquisition was announced on December 6, 2010. Terms of the agreement are not financially material to Scotiabank Group and were not disclosed.

"Scotiabank has a strong presence in Latin America and our entry into Uruguay enhances our already unique footprint," said Dieter Jentsch, Executive Vice-President, Latin America, Scotiabank. "We have built our business in the region by delivering superior service and will continue this tradition with our new customers in Uruguay."

With 500 employees, 600 retail points of sale and 37 branches, Pronto! has some 200,000 clients and is the market leader in personal loans.

Scotiabank's Latin American footprint also includes operations in Peru, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Mexico, Panama, Puerto Rico and Venezuela. Scotiabank already has more than 32,000 employees, 2,605 ABMs and 1,889 branches, kiosks and other offices in the region, including affiliates.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $526 billion (as at October 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

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