Pacific Alliance Boosts Scotiabank

Pacific Alliance leaders in Cali, Colombia last year: Presidents Enrique Pena Nieto (Mexico), Juan Manuel Santos (Colombia), Ollanta Humala (Peru) and Sebastian Pinera (Chile). (Photo: Pacific Alliance)

Wendy Hannam, executive vice president for Latin America for Canada-based Scotiabank.

Scotiabank expects positive impact from Mexico energy and telecom reforms.


Wendy Hannam is bullish on Latin America. The executive vice president for Latin America for Canada-based Scotiabank is “very positive on … Latin America operations, particularly the Pacific Alliance countries” where it has a strong presence in Mexico, Chile, Colombia and Peru.

Scotiabank increased Latin America revenues by 17 percent during fiscal year 2013 to 4.6 billion Canadian dollars (US$4.3 billion), while net interest income grew 18 percent to 496 million Canadian dollars. Its Latin America revenues exclude Central America and the Caribbean, where Scotiabank saw revenues grow by 2 percent to 2 billion Canadian dollars. Its fiscal year ended on October 31, 2013.

The increase in Latin America revenues was driven by strong loan growth as well as acquisitions.

“The double-digit loan growth throughout Latin America is ...

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Keywords: Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Mexico, Panama, Peru

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