Sun | Oct 21, 2018

Lasco Financial acquires CreditScotia

Published:Tuesday | November 14, 2017 | 4:48 PM

Scotia Group and LASCO Financial Services (LFSL) have reached an agreement that will see a 100 per cent transfer of ownership of  Scotia Jamaica Microfinance Company Limited (Crediscotia).

The deal, expected to be finalised by the end of November 2017, was signed on Monday.

Scotia Group said CrediScotia is a strong, viable player in the microfinance segment with a foundation that includes seven locations.

“This transaction is in line with the Group’s strategic direction to simplify its operations, focus on growing its core banking, insurance and investment businesses and deliver value to shareholders,” according to a release from Scotia Group.