Ownership by a committed parent, Bank of Nova Scotia, with full involvement in the management and operations of the bank The bank operates in the relatively low-risk Chilean environment Challenged to resume growth in the competitive Chilean financial system after having devoted significant efforts and time to the bank's turnaround process Still suffering certain asset quality pressures The ratings on Scotiabank Sudamericano (SSA) consider the ownership of Bank of Nova Scotia and its full involvement in the management and operations of this institution. Since the increase of the Canadian parent's ownership to 98% in 2002, SSA was brought in line with Scotiabank's operational standards in terms of risk management, credit control, funding, capital, human resources, and technology. In addition, new
