TORONTO, Feb. 1 /CNW/ - Scotiabank has been named the "Best Trade Finance
Bank" in Canada by Global Finance magazine for the second time in three years.
The ranking was published in the February 2008 issue of Global Finance.
"We're honoured to be recognized once again by Global Finance as being
among the world's best banks in regard to the scope and depth of the trade
services we provide," said Alberta Cefis, Executive Vice-President & Group
Head, Global Transaction Banking, Scotiabank. "This award highlights our
success in serving our domestic and multinational clients as they transact
business across borders.
Launched in October 2005, Scotiabank's Global Transaction Banking unit
offers corporate and commercial clients integrated business solutions to
support operations in their country of origin and abroad. "With an extensive
network of branches and offices in more than 50 international markets, we
understand the importance of providing local knowledge and expertise to help
our clients meet their global trade needs," continued Ms. Cefis.
"Scotiabank has trade finance capabilities in more than 50 countries and
is the leading bank in Canada," said Joseph D. Giarraputo, Publisher and
President of Global Finance magazine in New York. "The bank offers a full
range of specialized international trade services and its online systems save
importers and exporters time and money by giving them quick access to funding.
We selected the best trade finance banks in 67 countries or regions based on
such factors as transaction volume, scope of global coverage, customer
service, competitive pricing and innovative technologies. Canada is an
extremely competitive market for trade finance, and Scotiabank comes out on
Scotiabank offers an extensive array of supply chain financing solutions
aimed at increasing revenues and decreasing costs for both small and medium
sized enterprises and corporate clients. These risk mitigation and financing
solutions include traditional instruments like letters of credit, as well as
open account capabilities and innovative working capital programs such as
buyer, vendor and subsidiary financing.
This year, Global Finance magazine also honoured Scotia Capital with the
"Best Foreign Exchange Bank" in Canada for the fourth straight year in a row.
Global Transaction Banking partners with Domestic Banking, Scotia Capital and
International Banking divisions to deliver customer-centric trade services,
correspondent banking, cash management and payments, commercial cards, foreign
exchange and investment solutions.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 million customers in some
50 countries around the world. Scotiabank offers a diverse range of products
and services including personal, commercial, corporate and investment banking.
With $412 billion in assets (as at October 31, 2007), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
For further information:
For further information: Patty Stathokostas, Scotiabank Public Affairs,