Bank of Nova Scotia (BNS -0.5%) will pay $1B to purchase a majority stake in Colombia's Banco...

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

Bank of Nova Scotia (BNS -0.5%) will pay $1B to purchase a majority stake in Colombia's Banco Copatria, according to a report from Reuters. The bank already made a splash in the country when it snapped up RBS' operations there. Colombia's young, urban, and largely untapped population led to interest from the bank, says exec Brian Porter.