Market News

Scotiabank Opens The Scotiabank Women Initiative to Costa Rica

Bank of Nova Scotia (TSE: BNS) (NYSE: BNS) marked International Women’s Day by announcing that it is rolling out The Scotiabank Women Initiative in Costa Rica. 

Currently offered in North America and Jamaica, this initiative builds on its previous successes to offer a tailored program for women entrepreneurs in Costa Rica.

The initiative provides impartial access to capital as well as customized solutions and products to women-owned and -led businesses across the country.

Launched in December 2018, The Scotiabank Women Initiative is a comprehensive program aimed at improving the economic and career prospects of female Scotiabank customers who identify as female or non-binary.

CEO Commentary

“After successfully launching The Scotiabank Women initiative in Jamaica, we’re thrilled to be expanding in Costa Rica providing the resources women need to help bolster their businesses in this country,” says Ignacio Deschamps, Group Head, International Banking & Digital Transformation, Scotiabank. 

“By expanding the program, we’re meeting a need in Costa Rica by creating opportunities for the advancement of women-led businesses. We’re proud to be helping break down barriers that women face when it comes to financing their businesses.”

Wall Street’s Take

On March 3, RBC Capital analyst Darko Mihelic kept a Buy rating on BNS and set a price target of C$99. This implies 9% upside potential.

The rest of the Street is bullish on BNS with a Strong Buy consensus rating based on seven Buys and two Holds. The average Bank of Nova Scotia price target of C$99.22 implies 9.5% upside potential to current levels.

TipRanks’ Smart Score

BNS scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock returns have strong chances to beat the overall market.

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