Scotiabank in Puerto Rico

BNamericas, 23 February 2007Canada's Scotiabank is mulling further investments to lift its share of the Puerto Rico market to 8-10%, the head of the local unit told BNamericas.On February 16, Scotiabank bought a 10% stake in Puerto Rico's First BanCorp - parent of FirstBank - for some US$94mn. First Bancorp will issue about 9.25mn shares that Scotiabank will buy, a deal expected to close in two