Chile consolidates as the main market for Scotiabank after Canada

The bank's CEO globally, Brian Porter, stated that they would continue "in diversifying our business model". The international bank's profits exceeded US$468 million this quarter, driven by growth in mortgage and commercial lending.

RIO DE JANEIRO, BRAZIL - The Chilean operation of Canada's Scotiabank is becoming increasingly profitable since BBVA acquired it in 2017.

In the framework of the presentation of results for the second quarter of the Canadian fiscal year - which ends in April - the contribution of the Chilean subsidiary was relevant to reaching global profits, which reached US$2.1 billion, scoring a 12% growth in 12 months.

Scotiabank's CEO, Brian Porter, pointed out that the figures obtained are "combined with prudent expense management and position the bank well to increase its profits".

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