Bank of Nova Scotia (BNS) is buying a 19.99% stake in state-owned Chinese lender Bank of...

|About: The Bank of Nova Scotia (BNS)|By:, SA News Editor

Bank of Nova Scotia (BNS) is buying a 19.99% stake in state-owned Chinese lender Bank of Guangzhou for $727M. The bank is China's 29th largest lender, and mainly controlled by the government of Guangzhou. Scotiabank owns a similarly-sized share of Bank of Xi'ian.