TORONTO, Feb. 2 /CNW/ - Scotiabank has been recognized as the Best Trade
Finance Bank in Canada for the second year in a row by Global Finance. This is
the third time in four years that the Bank has received this award.
"We are very pleased to receive this award from Global Finance for the
third time and to be recognized for the scope and depth of the trade services
we provide," said Alberta G. Cefis, Executive Vice-President & Head, Global
Transaction Banking (GTB), Scotiabank. "Receiving this honour underscores the
level of commitment we have to continuously improve and expand upon the
services we provide to our clients globally."
Scotiabank's GTB unit offers corporate and commercial clients integrated
business solutions to support operations in their country of origin and
"Customers are continuously looking for more ways to reduce their risk,
increase their cash flow, and help their buyers finance purchases," added Ms.
Cefis. "Our strategic focus is to offer expanded and integrated capabilities
worldwide in trade, to meet our clients' needs wherever they do business.
Scotiabank operates in one of the best regulated, well-managed financial
systems and has remained among the best capitalized banks in the world, which
has provided our clients with the security they seek."
"Scotiabank has an extensive trade finance team of more than 500
employees who deliver specialized services in more than 50 countries," said
Joseph D. Giarraputo, Publisher & President, Global Finance. "As Canada's most
international bank, Scotiabank has a leading market share in Canada in export
letters of credit. Its overall trade finance volume is growing at a very
healthy rate. We selected the banks that major corporations can count on to
meet their global trade and financing needs."
This year, Global Finance magazine also honoured Scotia Capital with the
"Best Foreign Exchange Bank" in Canada for the fifth 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's Global Transaction Banking (GTB) business provides financial
solutions to commercial and corporate clients domestically and around the
world by drawing on more than 175 years of banking experience to meet the
needs of clients. Scotiabank, which was also named "Best Trade Finance Bank in
Canada" by Global Finance magazine for 2008 and 2006, through its Global
Transaction Banking (GTB) unit, currently offers a wide variety of domestic
and cross-border trade finance solutions including specialized vendor
programs, cross-border buyer credits and subsidiary financing. In partnership
with Scotiabank's International Banking Division and its wholesale banking
division, Scotia Capital, GTB has an extensive network in some 50 countries as
well as unmatched NAFTA presence and a unique footprint in the Americas.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With 69,000 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 $508
billion in assets (as at October 31, 2008), Scotiabank trades on the Toronto
(BNS) and New York Exchanges (BNS). For more information please visit
For further information:
For further information: Paula Cufre, Scotiabank Public Affairs, (416)