Bank of Nova Scotia Chief Executive Officer Brian Porter said the lender sees the most potential for expansion in Mexico, Peru, Chile and Colombia, countries with economic stability and a rising middle class.
Bank of Nova Scotia’s Richard Waugh, who is stepping down next week after 43 years at Canada’s third- largest lender, said future growth will probably be in Asia after decades of expansion in Latin America.
Bank of Nova Scotia Chief Executive Officer Richard Waugh said global regulators’ emphasis on leverage ratios to strengthen the world’s banks doesn’t strike the “right balance” between managing risk and economic growth.
A Middle Eastern royal’s purchase in May of the penthouse suite and unit below it at Vancouver’s five-star Fairmont Pacific Rim hotel for C$40 million ($39 million) was the most expensive condominium purchase in Canada.
Royal Bank of Canada said Chief Executive Officer Gordon Nixon will retire next year as the nation’s largest lender reported fiscal fourth-quarter profit that beat analysts’ estimates on gains in investment banking and consumer lending.