Morgan & Morgan advised Banco Davivienda Panamá on historic integration with Scotiabank in Panama.

Panama, December 1, 2025. Morgan & Morgan acted as legal counsel to Banco Davivienda Panamá in the successful closing of a landmark transaction involving the integration of Scotiabank Panamá’s operations (The Bank of Nova Scotia) into Banco Davivienda Panamá.

This transaction extends beyond Panama, as Scotiabank’s operations in Costa Rica and Colombia will also be integrated into Grupo Davivienda in those countries. It is a transaction of significant regional impact, strengthening the financial position of two leading banking groups in Latin America. The integration across these three markets represents more than $60 billion in assets and a customer base exceeding 29.6 million, positioning the combined entity as one of the largest banking conglomerates in the region.

The legal team was led by partner Roberto Vidal, alongside partners Ana Carolina Castillo, Jose Rafael Reyes, and Sophia Lee; senior associate Maria Eugenia Brenes; and associates Ariana Linares, Angélica Ortiz, David Ramos, Katia Pallares, Arantxa Fernandez, and Perla Piña, who played a key role in advising Banco Davivienda Panamá throughout the transaction.