The Bank of Nova Scotia (known also as Scotiabank) agreed this past summer to invest US$75 million to acquire a 5% interest in Mexico’s fourth largest financial group, Financiero Inverlat, S.A. The Canadian bank also entered into a technical services agreement with the group.
With headquarters in Mexico City, Grupo Inverlat has consolidated assets of US$11 billion. The group’s two principal operating subsidiaries are a commercial bank (Multibanco Comermex) and an investment bank.
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