BVI – May 30, 2020 – Scotiabank announced today that it has completed the previously announced sale of its banking operations in the British Virgin Islands to Republic Financial Holdings Limited (“RFHL”), with an effective closing date of May 31, 2020.

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

RFHL is the parent company of a leading financial institution based in Trinidad & Tobago with operations across the Caribbean and Ghana, Africa.

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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 97,000 employees and assets of over $1.2 trillion (as at April 30, 2020), 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 media enquiries only:
Laura Mergelas, Global Communications, Scotiabank, laura.mergelas@scotiabank.com, PH: (416) 285-2639

For investor enquiries only:
Philip Smith, Investor Relations, Scotiabank, philip.smith@scotiabank.com, PH: (416) 863-2866