Update on Scotiabank Operations in Belize

To our Valued Customers:

As we announced in June 2020, Scotiabank has entered into an agreement to sell its banking operations in Belize to Caribbean Investment Holdings Limited (“CIHL”) – the holding company that owns and operates The Belize Bank Limited. The agreement is subject to Regulatory Approvals and customary closing conditions. We expect the transition to take place over the next couple of months. Until regulatory approval is obtained, closing conditions are met and the transaction closes, all Scotiabank operations will continue as usual.

We believe our customers will benefit from the new ownership of CIHL given its strong presence in Belize through the Belize Bank Limited. As a valued customer, we can assure you CIHL and Scotiabank will work together to facilitate a smooth transition for all our customers.

Thank you for your business and for placing your trust in us.