Scotiabank has successfully completed the acquisition of a 4.9% pro-forma ownership stake in KeyCorp through newly issued common shares, with a cash consideration of approximately US$0.8 billion. The transaction was executed at a price of US$17.17 per share.This investment is part of a larger strategic move announced on August 12, 2024, where Scotiabank plans to acquire a total 14.9% pro-forma ownership stake in KeyCorp. The remaining approximately 10% investment is expected to close in fiscal 2025, subject to regulatory approvals.Scotiabank, with assets of approximately $1.4 trillion as of July 31, 2024, continues to expand its market presence through strategic investments. The bank operates across personal and commercial banking, wealth management, private banking, corporate and investment banking, and capital markets sectors.

Scotiabank has successfully completed the acquisition of a 4.9% pro-forma ownership stake in KeyCorp through newly issued common shares, with a cash consideration of approximately US$0.8 billion. The transaction was executed at a price of US$17.17 per share.This investment is part of a larger strategic move announced on August 12, 2024, where Scotiabank plans to acquire a total 14.9% pro-forma ownership stake in KeyCorp. The remaining approximately 10% investment is expected to close in fiscal 2025, subject to regulatory approvals.Scotiabank, with assets of approximately $1.4 trillion as of July 31, 2024, continues to expand its market presence through strategic investments. The bank operates across personal and commercial banking, wealth management, private banking, corporate and investment banking, and capital markets sectors.