The Bank of Nova Scotia (TSX:EFN) is in discussions to sell a CAD 1 billion vendor and equipment financing portfolio, according to four sources familiar with the matter. Nova Scotia Bank began the sale process a few weeks ago and is in talks with several parties including Toronto-based Element Financial , said three of the sources. Two of the sources said the assets that Scotia is looking to sell are housed within its Roynat unit.

Bank of Nova Scotia declined to comment on the matter. A spokesman for Element said the firm's strategic review around its Canadian C&V business remains ongoing.