Pros and cons of Scotiabank’s ING purchase

By Staff | August 31, 2012 | Last updated on August 31, 2012
1 min read

Scotiabank made its largest-ever acquisition on Wednesday, with its purchase of the Canadian assets and customers of ING Groep NV for $3.13-billion.

Read: Scotiabank to buy ING

Rick Waugh, president and CEO, said, “ING will benefit from the backing of a strong, stable Canadian shareholder with the additional resources to enable it to expand and grow.”

But Kevin Carmichael, Globe reporter, isn’t so sure ING customers agree with Waugh’s outlook; he unpacks the CEO’s statement and looks at the pros and cons of the acquisition. Read more.

Read: Boutique vs. bank battle rages on

He also wonders if Canada’s biggest banks should still be growing, given the risks of the too-big-to-fail mentality.


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