BNS acquires Scotia DBG Merchant Bank

Tuesday, 04 May 2010 19:49

The Bank of Nova Scotia Jamaica Limited has advised that it has acquired Scotia DBG Merchant Bank Limited (SDBGMB) with the intention to eventually

consolidate SDBGMB into Scotiabank. This reorganization is aimed at improving efficiencies across Scotiabank Group through the removal of duplicate

products and services. An independent valuation of SDBGMB was conducted by Deloitte Touche Tohmatsu and this valuation was used as a basis to

determine the sale price of $879 million which was settled in cash.