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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 generation." 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 www.scotiabank.com.
For further information: Deborah Spence, (403) 254-6830; Jane Shannon, (416) 933-3056, Scotiabank Public Affairs