The Bank of Nova Scotia is considering strategic options for its 49% stake, valued at $1.7bn, in Thanachart Bank (TBank) in Thailand. Scotiabank may begin a formal sale process early next year. However, it has not yet finalized the decision on the sale. In an interview with Reuters, Mr. Thaksin, who took office last year, said he would consider selling his stake if there was “clear and convincing evidence” that the bank could be better off
The Bank of Nova Scotia is considering strategic options for its 49% stake, valued at $1.7bn, in Thanachart Bank (TBank) in Thailand. Scotiabank may begin a formal sale process early next year. However, it has not yet finalized the decision on the sale. Meanwhile, Scotiabank is focusing on expanding its business in the Latin American market.