Scotiabank to Increase Small Loans in Mexico

January 18, 2013

Bloomberg, 1/18/2013

Pesos by Flickr user AleiexBank of Nova Scotia says it can boost small loans in Mexico as much as 20 percent in a push for business in Latin America, where lending margins are double the Canadian average. Canada’s third-largest bank expects to add to a C$3 billion ($3 billion) micro-loan portfolio with credit to consumers and small businesses ranging from $300 to $3,000. The bank will target clients in the 240 Mexico branches it acquired last year from Citigroup Inc. (C)’s Banamex unit.

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