Bank of Nova Scotia (TSX:BNS) has closed the transaction to purchase Pronto!, Uruguay’s third-largest consumer finance company, the bank said Friday.

The acquisition was announced on Dec.6, 2010. Terms of the agreement were not disclosed, although Scotiabank said they are not financially material.

“Scotiabank has a strong presence in Latin America and our entry into Uruguay enhances our already unique footprint,” says Dieter Jentsch, executive vice president, Latin America, Scotiabank. “We have built our business in the region by delivering superior service and will continue this tradition with our new customers in Uruguay.”

With 500 employees, 600 retail points of sale and 37 branches, Pronto! has some 200,000 clients and is the market leader in personal loans.

Scotiabank’s Latin American footprint also includes operations in Peru, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Mexico, Panama, Puerto Rico and Venezuela. Scotiabank already has more than 32,000 employees, 2,605 ABMs and 1,889 branches, kiosks and other offices in the region, including affiliates.

IE