Canada’s third-largest bank, Scotiabank, is to
offer personal loans and credit cards to the underbanked segment of
the Mexican market, from a network of retail stores.
Scotiabank already operates similar consumer
finance operations in Peru, Guatemala the Dominican Republic and
Chile.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
In Peru, Scotiabank has targeted households
with monthly incomes of less than $750 ($755).
Scotiabank is the seventh-largest bank in
Mexico, with a network of 508 branches and 1,172 ATMs.
Almost one-half of Mexico’s population of 112
million is estimated to be unbanked or underbanked.
Scotiabank’s Mexico-based unit posted net
income of C$211m in fiscal 2010, up 8.7% from the previous
year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
