Latin America’s best bank transformation 2020: Scotiabank Chile

Scotiabank Chile wins the award for the region’s best bank transformation.

Awards for Excellence 2020

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© 2020 Euromoney

Regional awards

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Scotiabank Chile wins the award for the region’s best bank transformation.

Ignacio Deschamps, group head of international banking and digital transformation at Scotiabank, describes the opportunity to buy BBVA’s operations in the country as a “once-in-a-lifetime opportunity”.

It is easy to understand why.

Both legacy Scotiabank and BBVA had a 7% market share in loans. Simple arithmetic would place a combined entity in joint third place in the banking system, equal to the 14% each market shares of Banco Estado and Banco Credito.

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