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flag Scotiabank acquires a 14.9% stake in KeyCorp for $2.8 billion, expanding its U.S. market presence.

flag Scotiabank has completed a $2.8 billion acquisition of a 14.9% stake in U.S. bank KeyCorp, involving a 10% share purchase after Federal Reserve approval. flag This move aims to expand Scotiabank's presence in the U.S. market cost-effectively and with low risk, shifting capital from developing to developed markets. flag CEO Scott Thomson clarified that the bank has no intention of seeking a majority stake in KeyCorp.

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