Bank of Nova Scotia, Canada's most international bank, is considering diving in to the lucrative but troubled U.S. banking sector.
Scotiabank has long focused on building its network in Mexico, Central America and the Caribbean, and more recently in Asia. Now it is sticking its neck out to take a look at National City Corp., a Cleveland-based bank that's been stung by the U.S. housing crisis. It has a network that stretches through Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania.
Analysts were cautiously optimistic about the prospect.
"If there were ever a time to do it, now would be the time," CIBC World Markets analyst Darko Mihelic said.
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