Scotiabank to market financing company is leased by Roynat unit’s

The Scotiabank logo at the Bank of Nova Scotia headquarters in Toronto. (© Chris Helgren / Reuters)

Canadian lender Bank of Nova Scotia said it’d sell a component of its subsidiary company Roynat Inc, Roynat Lease Finance

Reuters, citing sources, reported that Scotiabank was in discussions to sell $1-billion worth of assets within Roynat, which it got about 20 years past.

Scotiabank, Canada’s No.3 lender, didn’t supply the monetary details of the sale.

“Our Roynat company is focused on giving to mid-market businesses to propel their increase and this lease finance company isn’t core to that offering,” Roynat President Phil Armstrong said in a statement.