“Partnering with Cencosud has been a rewarding process in which we have begun to leverage the potential of the consumer finance business”, said Miguel Uccelli, CEO & Country Head of Scotiabank Peru.” With this acquisition we have completed one more phase in our strategy to strengthen our consumer financing and credit card business in Peru, which aligns with our global vision to increase scale in the countries of the Pacific Alliance; Colombia, Chile, Mexico and Peru”, he concluded.

“Our objective is to leverage the teams from Banco Cencosud and Scotiabank to build an improved experience for all our customers”, said Carlos Morante, CEO of Banco Cencosud, and who will be in charge of the operation under the new name of CAJA CAT PERÚ. “Our customers will continue to enjoy the products they have with us, under the same conditions, but with greater support. We will continue operating separately, taking into account the special features of each business and we will continue to work with our current team of employees”, he said. Morante indicated that no customer has to change their credit cards or other products, “Everything remains the same”, he concluded.

Cencosud Peru owns the second-largest supermarket and the fourth-largest department store chain in the country. Cencosud has operated in Peru since 2007 through the Wong supermarket brand Metro supermarket and Paris department stores. It is also the owner of various shopping malls.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 98,000 employees¹ and assets of over $1 trillion (as at January 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

¹Employees are reported on a full-time equivalent basis.

“We are excited to have completed this transaction that is fueled by the strategy of gaining greater scale in economically stable markets with prospects for growth, and allows us to expand and strengthen our operations in the country. We are building a leaner, more modern digital bank, to continue improving our customers’ experience with enhanced financial services and products” said Gonzalo Parral, CEO, Scotiabank Dominican Republic.

With the closing of this acquisition, Scotiabank doubles its customer base and strengthens its fourth-place position in terms of assets in full-service banking and its third-place ranking in the credit card segment in the Dominican Republic, with a 17% share of the market. The acquired Banco Dominicano del Progreso operations include 57 branches, 184 ABMs and more than 160 banking sub-agents, which serve more than 250,000 personal and commercial banking customers.

For further information on the integration stage, please visit www.scotiabank.com.do and www.progreso.com.do.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 98,000 employees¹ and assets of over $1 trillion (as at January 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

¹Employees are reported on a full-time equivalent basis.

“Allfunds is one of the leading international distribution platforms,” said Ron Redell, executive vice president of DoubleLine. “The availability of DoubleLine Funds (Luxembourg) on this distribution network is strategically important for DoubleLine’s UCITS funds global expansion.”

The term UCITS stands for Undertakings for the Collective Investment of Transferable Securities, an open-end fund vehicle available in Europe, Latin America and many other countries outside the U.S. The sub-funds of the DoubleLine Funds (Luxembourg) UCITS currently include the DoubleLine Shiller Enhanced CAPE® equity sub-fund, which is co-managed by DoubleLine Alternatives LP and DoubleLine Capital LP, and DoubleLine Short Duration fixed income sub-fund, which is managed by DoubleLine Capital LP. Depending on an investor’s country of residence, the sub-funds are available via retail and institutional share classes denominated in various currencies.

Allfunds Bank Group offers integrated fund solutions (operational, analysis and information). Created in 2000, today Allfunds Bank has more than €370 Billion assets under administration and offers more than 64,400 funds from over 1,200 fund managers. Allfunds Bank Group has a local presence in Luxembourg, Switzerland, United Kingdom, Spain, Italy, United Arab Emirates, Singapore, Chile and Colombia and has more than 605 institutional clients, including major commercial banks, private banks, insurance companies, pension funds, fund managers, financial supermarkets, international brokers, and specialist firms from 45 different countries. Allfunds Bank Group operates in Asia through the entity of Allfunds Singapore Branch.

About DoubleLine Capital LP

DoubleLine Capital LP is an investment adviser registered under the Investment Advisers Act of 1940. As of the September 30, 2018 end of the third quarter, DoubleLine Capital and its related companies (”DoubleLine”) managed approximately $123 billion in assets across all vehicles, including open-end mutual funds, collective investment trusts, closed-end funds, exchange-traded funds, hedge funds, variable annuities, UCITS and separate accounts. DoubleLine’s offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can reach DoubleLine by e-mail at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.

The Said family, which owns 31.62% of BBVA Chile, has waived its Right of First Refusal to acquire BBVA’s shares of BBVA Chile, but maintains the right to tender all or a portion of its shares in the mandatory tender offer to be carried out by Scotiabank. The Said family has indicated their willingness to potentially remain in the business and, if so, would invest up to approximately US$ 500 million (CAD$ 650 million) in order to own up to 25% of the combined business when Scotiabank Chile and BBVA Chile are merged. In this scenario, and if the transaction is completed, Scotiabank’s Common Equity Tier 1 capital ratio will be impacted by approximately 90 basis points.  Scotiabank’s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders all of its shares to Scotiabank.

This transaction is in line with Scotiabank’s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank’s market share in Chile to approximately 14%, and make Scotiabank the 3^rd largest private sector bank in the country.

“We are pleased to have reached an agreement with BBVA to acquire their shares of BBVA Chile.  We look forward to a partnership with the Said family and to build a better bank in Chile,” said Brian Porter, President and CEO at Scotiabank.  “BBVA Chile has a proven track record of providing leading financial products and services to customers across the country and this transaction demonstrates excellent synergy between both banks with customer-centric cultures.”

“This acquisition allows us to create a leading bank in Chile underpinned by a solid risk culture and provides opportunities to accelerate our digital transformation, while building a high performance team,” said Ignacio (Nacho) Deschamps, Group Head, International Banking and Digital Transformation at Scotiabank.

Conference call

A conference call will take place on December 5, 2017, at 8:30 a.m. ET. Interested parties are invited to access the call live, in listen-only mode, by telephone at (416) 640-5944, or toll-free at 1-800-281-7973 (please call five to 15 minutes in advance). In addition, an accompanying slide presentation may be accessed via the Investor Relations page of www.scotiabank.com. Following discussion of the transaction by Scotiabank executives, there will be a question and answer session.

A telephone replay of the conference call will be available from December 5, 2017, to December 20, 2017, by calling (647) 436-0148 or 1-888-203-1112 (North America toll-free) and entering the identification code 9422114#.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

BBVA owns 68.19% of BBVA Chile and the Said family owns 31.62% of BBVA Chile. Scotiabank has offered to acquire BBVA’s interests in BBVA Chile, and certain subsidiaries, for approximately US$2.2 billion (CAD$2.9 billion).

This transaction is in line with Scotiabank’s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank’s market share in Chile to approximately 14%, and make Scotiabank the 3^rd largest non-state owned bank in the country.  If the transaction is completed, Scotiabank’s Common Equity Tier 1 capital ratio will be impacted by approximately 100 basis points.

Pursuant to the mandatory tender offer for all the shares of BBVA Chile required under Chilean law or the Said family’s tag-along rights under the shareholders agreement of BBVA Chile, the Said family has the right to sell its shares of BBVA Chile on the same basis to Scotiabank.  Scotiabank’s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders/sells all of its shares to Scotiabank.

About BBVA Chile and Scotiabank Chile (September 2017 and in Canadian dollar equivalent):

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $906 billion (as at July 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.