Scotiabank will consider buying Clico By Verne Burnett Tuesday, June 17 2014 click on pic to zoom in Happy birthday: Scotiabank Managing Director Anya Schnoor (middle) gets assistance from businessman Jimmy Aboud (left) and the banks Frederick Street... MANAGING Director of Scotiabank Trinidad and Tobago, Anna Schnoor, said yesterday the bank will consider buying the assets of the Colonial Life Insurance Company Limited (Clico) when government offers the company for sale. She made the statement in response to questions from journalists at a function at the bank’s flagship branch at the corner of Frederick Street and Independence Square, Port-of-Spain, to celebrate its 60th Anniversary in Trinidad and Tobago. She said, “I am sure we would always look at any opportunities to grow. I am not sure what the plan is, I’ve read in the (news)paper that it may be up for sale, but I think that we will always look at any opportunity if it fits in with our risk profile and what we are looking for as we grow in the island.” In response to another question, she said the banking sector in this country was “tremendously strong.” She said one only had to look at how the banking industry in Trinidad and Tobago had survived the international banking collapse in 2008. “Other than Clico, which had other issues which were particularly unique to Clico, the rest of the banking system stood up very strong and has actually grown and continues to grow since then. So I think Trinidad is uniquely placed in that it has a very strong and a very diverse financial services industry and I think it is well regulated and has good oversight,” she said.
Posted on: Tue, 17 Jun 2014 13:11:54 +0000
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