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Chile: Scotiabank to evaluate risks in partnership with Cencosud

By  |  January 26, 2016

Scotiabank Chile’s General Manager, Francisco Sardon, commented on the possible effects on the bank as a result of their alliance with supermarket chain CENCOSUD, accused by Chile’s FNE of antitrust charges.

“We will evaluate the risk to our reputation in due time, but we want to let things run their course. this is a process that has just begun, and we are allied with CENCOSUD in the financial services business, while the FNE’s accusation involves their supermarket business”, said Sardon.

Scotiabank’s Chilean branch has announced expectations for strong organic growth over the next 5 years, anticipating investments of around $25 million dollars year. However, they will be willing to review any proposals.

Full content: La Tercera

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