Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeFinanceBankingScotiabank expands presence in the U.S. by buying Texas bankThe Bank of Nova Scotia has been allocating more capital in North America, a strategy it announced in late 2023Last updated 46 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.Scotiabank earlier this week beat analysts’ expectations for its second-quarter earnings, with results driven by stronger profits in its capital markets, wealth management and Canadian businesses. Photo by Photographer: Galit Rodan/BloombergSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Accountor“MapleMark Bank is a well-run bank primarily operating in Dallas and further supports our strategic focus within the North American corridor,” Travis Machen, Scotiabank’s head of global banking and markets. said in a statement on Friday.The acquisition is subject to customary closing conditions and receipt of regulatory approvals and won’t have a material impact on Scotiabank’s earnings, the lender said.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againScotiabank has been allocating more capital in North America, a strategy it announced in late 2023. It is looking to allocate a greater share of capital to Canada as well as recycle capital from its Latin American businesses to its corporate business in the United States.In 2025, the bank sold its operations in Colombia, Costa Rica and Panama to boost efficiencies and reorganize its Latin American businesses. The foreign operations were transferred to Banco Davivienda SA, Colombia’s third-largest bank in terms of assets and profits, in exchange for a 20 per cent equity ownership stake in the newly combined entity.Scotiabank earlier this week beat analysts’ expectations for its second-quarter earnings, with results driven by stronger profits in its capital markets, wealth management and Canadian businesses. Get the latest from Naimul Karim straight to your inbox Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.
Scotiabank expands presence in the U.S. by buying Texas bank
Bank of Nova Scotia has inked a deal to acquire Maple Financial Holdings, Inc., a Texas-based company that runs a commercial bank. Read on
TL;DRAI
Scotiabank acquires MapleMark Bank, a Dallas-based lender, as part of its North American capital reallocation strategy announced in late 2023, exiting Latin America (Colombia, Costa Rica, Panama) to redirect resources to the U.S. and Canada. For financial institutions and enterprise tech buyers, the deal signals continued consolidation in U.S. regional banking, with Canadian majors increasing U.S. corridor exposure as a hedge against domestic market concentration.
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