BRIEF-Bank of Nova Scotia won't seek a U.S. retail bank acquisition - CEO

Thu Dec 12, 2013 3:44pm EST
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TORONTO Dec 12 (Reuters) - Bank of Nova Scotia : * Won't seek a U.S. retail bank acquisition - CEO * To continue to seek international growth in Latin America and Asia-CEO * Could seek "selective" acquisitions within in its current footprint * CEO would prefer to use capital for growth than to buy back shares * Happy with current 37 percent stake in CI Financial * CEO sees Basel common equity tier 1 ratio staying in range of 9-9.5 percent * Focused on reducing structural costs across the bank, reducing overlap from

recent acquisitions * Could expand its online retail bank internationally within current footprint