Scotiabank Buys Banco Wiese Sudameris

Canadian Scotiabank has bought Peru’s third-largest bank, Banco Wiese Sudameris, from controlling shareholder — Italy’s Intesa in a private deal. The sale ends months of speculation regarding prospective investors. It is not yet known what Scotiabank paid for the Peruvian entity. Scotiabank is the third-largest in Canada in terms of assets. It also holds a minority stake in local Banco Sudamericano and controls Scotiabank Inverlat in Mexico.