January 12, 2016 / 7:04 PM / 3 years ago

Scotiabank would see capital benefit from Thanachart sale: CEO

Scotiabank CEO Brian Porter attends the company's annual general meeting in Ottawa April 9, 2015. REUTERS/Patrick Doyle

TORONTO (Reuters) - Canada’s Bank of Nova Scotia (BNS.TO) could improve its core capital strength by 40 to 60 basis points if it chooses to sell its stake in Thanachart Bank Pcl, Chief Executive Brian Porter told RBC’s Canadian Bank CEO Conference.

Scotiabank may consider strategic options for its 49 percent stake in Thanachart Bank, Thailand’s No. 2 car loan provider which is majority-owned by Thanachart Capital Pcl (TCAP.BK), Reuters reported in December.

“We’ll see what happens there, but I’ve always categorized Thanachart as an investment. If we were to realize some value there would be anywhere from 40 to 60 basis points of common equity tier 1,” Porter told the conference.

Reporting by Matt Scuffham

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