CALGARY, Aug. 11 /CNW/ - Scotiabank today launched Scotia Flex(TM) for
agriculture and the ScotiaOne Account Plan for agriculture(TM), two new
financial solutions developed to help agricultural business owners quickly
respond to shifting market conditions and opportunities.
"The Agriculture and Agri-Food industry is a vital part of the Canadian
economy. In an environment of strong global food markets, it's an ideal time
for Canadian farm businesses to explore new opportunities," said Patricia
Mohr, Vice President, Economics and Commodity Market Specialist at Scotiabank.
"Stronger grain and oil seed prices - partly linked to surging interest in
biofuels as well as new canola varieties for today's health-conscious
consumers - have contributed to a 30 per cent advance in Scotiabank's
Agricultural Price Index over the past year."
"At Scotiabank, we understand that operating an agricultural business in
today's changing markets presents a need for dependable and adaptable
financial products and services," said Bob Funk, Vice-President, Agricultural
Banking, Scotiabank. "With Scotia Flex(TM) for agriculture and the ScotiaOne
Account Plan for agriculture(TM), customers can take advantage of
opportunities quickly and efficiently."
Scotia Flex(TM) for agriculture offers convenient, flexible and
user-friendly financing to meet the business needs of customers who are busy
growing their agribusiness. It provides customers with the ability to
customize their farm credit needs from a suite of credit products under one
global credit limit of up to one million dollars secured by the available
equity in the farm property.
Designed specifically for agricultural business customers with sales
under five million dollars, the ScotiaOne Account Plan for agriculture(TM) is
an all-inclusive banking package that enables customers to combine the basic
transactional services they need for their farm business along with up to 50
free transactions on a personal account with the option to include a line of
credit up to $250,000.
"For over 175 years, Scotiabank has supported agricultural businesses
across Canada," added Mr. Funk. "Our national team of agricultural banking
specialists understand the unique needs of our agricultural customers, and
works with them to realize their vision for today and for the next
More information on the Scotia Flex(TM) for agriculture and the ScotiaOne
Account Plan for agriculture(TM) is available at
scotiabank.com/agricultureservices, or by speaking with a Scotiabank
Agriculture banking advisor.
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 $453 billion in assets (as at April 30, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
For further information:
For further information: Deborah Spence, (403) 254-6830; Jane Shannon,
(416) 933-3056, Scotiabank Public Affairs