Scotiabank May Consider Strategic Options for its Stake in Thanachart Bank

Stocks and Financial Services Press Releases Monday December 21, 2015 10:20
TORONTO, ONTARIO--(Marketwired)--Dec 18, 2015

As part of a strategic shift in the direction of Scotiabank's Asia Pacific operations, led by the realignment of regional operations under the Global Banking and Markets business line, Scotiabank (TSX:BNS) (NYSE:BNS) may consider strategic options for its 49% stake in Thanachart Bank Public Company Limited ("TBank"). No final decision has been made with respect to this investment.

Scotiabank continues to maintain a good working partnership with Thanachart Capital Public Company Limited ("TCap"), a 51% stakeholder in TBank. TCap is aware of Scotiabank's consideration of strategic options and is open to considering proposals that are also in the interest of TCap and TBank's customers, employees, shareholders and regulators.

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 parts of Asia. We are dedicated to helping our 23 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 approximately 90,000 employees and assets of $856 billion (as at October 31, 2015), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankNews.

Diane Flanagan
Public, Corporate and Government Affairs
Scotiabank
416-933-2176
diane.flanagan@scotiabank.com

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