Canada's Scotiabank CEO pay rises by 27% after strong year
The move is in line with the country's banking peers like Royal Bank of Canada and National Bank of Canada, which also raised CEO pays post mega deals. Scotiabank also managed to strike a $2.8 billion deal last year with KeyCorp to acquire 14.99% of voting shares in the U.S. regional lender, as the bank refocuses on the North American trade corridor as part of its new strategy. However, the bank suffered an impairment loss, which lowered its first quarter profit, as it transferred its operations in Colombia, Costa Rica and Panama to Davivienda, in exchange for a 20% stake in the Colombian bank.