Scotiabank to buy Banco de Progreso
Talks are advanced for the purchase of the small, yet efficient Banco del Progreso. The bank is the local representative for American Express. Reportedly, it would merge with the big Scotiabank. Talks had been ongoing since 2015.
The reports are that it is a US$320 million operation. It would turn Scotiabank into the fourth largest bank in the Dominican Republic, behind the governmental Banco de Reservas, Banco Popular Dominicano and the merged BHD-Leon.
Source: DR1, Eldia
Aug 14, 2018
Category: DR News |