Scotiabank buys Texas-based commercial lender as it eyes U.S. growth
Scotiabank has announced its acquisition of Texas-based Maple Financial Holdings as part of its strategy to expand in the U.S. market. The deal will enhance Scotiabank's offerings, allowing it to provide FDIC deposit insurance to clients. This acquisition aligns with the bank's focus on growing its presence in North America, particularly in Texas and Oklahoma.
- ▪Scotiabank is acquiring Maple Financial Holdings, the parent company of MapleMark Bank.
- ▪The acquisition will allow Scotiabank to offer FDIC deposit insurance to its clients.
- ▪Scotiabank aims to expand its business in the U.S. as part of its strategy to strengthen ties with Canada and Mexico.
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Open this photo in gallery:Scotiabank announced the purchase of Texas-based Maple Financial Holdings on Friday.Jeff McIntosh/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountBank of Nova Scotia BNS-T has struck a deal to buy a Texas-based bank in its latest move to expand its business in the United States. The Canadian lender said it will acquire Maple Financial Holdings Inc., the parent company of MapleMark Bank, a commercial lender with operations primarily in Dallas, Tex. Scotiabank has been growing its global banking and markets business in the U.S. as part of its strategy to benefit from business ties and trade between its three largest markets in Canada, Mexico and the U.S.
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