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Exclusive: Scotia in talks to sell part of commercial financing portfolio – sources

A Scotiabank logo is pictured at the company's AGM in Kelowna, British Columbia April 8, 2014. REUTERS/Ben Nelms

By Euan Rocha and John Tilak

TORONTO (Reuters) – Bank of Nova Scotia , Canada’s third biggest lender, is in discussions to sell a C$1 billion ($715 million) vendor and equipment financing portfolio, according to four sources familiar with the matter.

Scotiabank, which began the sale process a few weeks ago, is in talks with several parties including Toronto-based Element Financial , said three of the sources.

Two of the sources said the assets that Scotia is looking to sell are housed within its Roynat unit, which the bank acquired about 20 years ago.

Roynat provides funding between C$250,000 and C$50 million to small read more >>>

Source : BusinessInsider.Com