Scotiabank Acquires Leading Canadian Mortgage Lender and The Bank of New York Selected by Ternium S.A. as Depositary Bank16 February 2006
Finance industry news provided by Financial News USA (OTC: FNWU) Scotiabank (NYSE: BNS) today announced a definitive agreement to buy the mortgage business of Maple Financial Group Inc., which includes Maple Trust Company, a national leader in mortgage lending. "Scotiabank's acquisition of this business demonstrates our commitment to finding opportunities to drive revenue growth," said Rick Waugh, Scotiabank President and Chief Executive Officer (CEO). "This is an excellent opportunity to build on our strong position as a leading provider of mortgage financing for Canadians." The Bank of New York (NYSE: BK) a global leader in securities servicing, has been selected by Ternium S.A. as depositary bank for its American depositary receipt program (ADR). Each Ternium ADR represents 10 ordinary shares. The ADRs trade on the New York Stock Exchange under the symbol "TX."
EMAX Ventures, Inc. a company partly owned by eMax Holdings Corporation (Other OTC: EMXC) announces the opening of a new office in Calgary, Canada. EMAX Ventures, Inc. is setting up a new office in Canada to handle all the new consultation, distribution, and import operations of EMAX Ventures. EMAX Ventures is currently working with several Canadian companies and firms. EMAX Ventures in Canada will represent Canadian companies and products to the US and internationally. Bank of America Corp. (NSYE: BAC)is waiving the origination fee on student loans under the federal Stafford program during the 2006-07 school year. Charlotte-based BofA says it will pay the 3 percent origination fee on the Stafford loans, which are available to undergraduate and graduate students.
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