M&A Deal Summary |
|
|---|---|
| Date | 2019-06-26 |
| Target | The Bank of Nova Scotia - Puerto Rico and US Virgin Islands Operations |
| Sector | Financial Services |
| Buyer(s) | OFG Bank |
| Sellers(s) | Scotia Bank |
| Deal Type | Divestiture |
| Deal Value | 560M USD |
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| Category | Company |
|---|---|
| Founded | 1964 |
| Sector | Financial Services |
| Employees | 2,239 |
| Revenue | 640M USD (2023) |
OFG Bank is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a wide range of retail and commercial banking, lending and wealth management products, services and technology, primarily in Puerto Rico. OFG Bank was founded in 1964 and is based in San Juan, Puerto Rico.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Financial Services) | 1 of 1 |
| Type (Divestiture) | 1 of 1 |
| Country (Puerto Rico) | 1 of 1 |
| Year (2019) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| Category | Company |
|---|---|
| Founded | 1832 |
| Sector | Financial Services |
| Employees | 89,090 |
| Revenue | 31.8B CAD (2023) |
Scotia Bank offers personal, commercial, corporate and investment banking products and services through global team of more than 75,000 Scotiabankers. Scotia Bank was incorporated in 1832 and is based in Toronto, Canada.
| DEAL STATS | # |
|---|---|
| Overall | 2 of 3 |
| Sector (Financial Services) | 2 of 3 |
| Type (Divestiture) | 2 of 3 |
| Country (Puerto Rico) | 1 of 1 |
| Year (2019) | 1 of 1 |
| Size (of disclosed) | 1 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-08-17 |
Hermes
Lima, Peru Hermes is a provider of cash management services with a nationwide network of 18 branches, 228 armored vehicles. Hermes offers logistics, cash processing, and custody services to a blue-chip client base comprised of more than 1,000 active clients in the financial, retail, utilities and mining segments. Hermes is a mission-critical partner to the largest financial institutions and retail organizations in Peru. Hermes was founded in 1985 and is based in Lima, Peru. |
Sell | - |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-06-22 |
Belize Bank
Belize City, Belize Belize Bank Corporation Limited operates bank branches throughout the country of Belize. |
Sell | $31M |
