Belize City / April 1, 2021 – Scotiabank announced today that it has completed the previously announced sale of its banking operations in Belize to Caribbean Investment Holdings Limited (“CIHL”) – the holding company that owns and operates The Belize Bank Limited (“Belize Bank”). As a result of this transaction, Scotiabank (Belize) Ltd. will be renamed Belize Bank Corporation Limited.

This transaction supports Scotiabank’s strategic decision to focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers.

CIHL is a public company currently trading on the Alternative Investment Market of the London Stock Exchange and on the Bermuda Stock Exchange. CIHL's principal subsidiaries are Belize Bank, Belize Bank International Limited, and Belize Corporate Services Limited. Belize Bank is a full-service commercial bank which provides a range of banking and financial services. Belize Bank is the first and oldest banking operation in Belize and has demonstrated over 100 years of continuing business and excellence in customer service. CIHL is committed to growing its operations in Belize and providing the highest quality of products and services to the people and businesses of Belize.

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Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success 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 approximately 90,000 employees and assets of approximately $1.2 trillion (as at January 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

For more information:
Philip Smith
Investor Relations, Scotiabank
philip.smith@scotiabank.com
(416) 863-2866