TORONTO, April 22 /CNW/ - Scotiabank is delighted to be recognized by Canadians as one of the country's most reputable companies and Canada's most reputable bank. The rankings of Canada's 50 largest companies in this year's Canadian Business/Reputation Institute "Most Reputable Canadian Companies" list were released today by Canadian Business Magazine. Scotiabank scored in the top 20 of all companies and was the highest ranking bank.

"In the wake of the recent global financial crisis, reputation has become even more important to organizations seeking to attract and retain customers, employees, and shareholders," said Rick Waugh, Scotiabank President and CEO. "Scotiabank has always placed very high value on how we are viewed by our stakeholders, and today's announcement reinforces that we are on the right track. Scotiabank's more than 20,000 Canadian employees can share in this recognition because of their dedication to serving their customers and their communities every day. We thank them for their work and are very proud to be Canada's highest ranking bank on this survey."

The study, a joint initiative of Canadian Business Magazine and Reputation Institute, asked over 2,200 Canadians for their impressions of 50 of Canada's biggest companies in order to determine which have the strongest reputations (most trusted, admired and held in highest esteem) as well as how they perform on key indicators, such as ethics and transparency, innovation and corporate citizenship. In addition to Scotiabank's high reputational ranking, the Bank also received the highest citizenship ranking among all Canadian Banks.

"We are extremely pleased that Canadians singled out Scotiabank for its corporate citizenship efforts," said Sylvia Chrominska, Group Head, Global Human Resources and Communications, Scotiabank. "We believe that contributing to the well-being of the communities we serve is an important part of who we are and what we do."

This year marks the first that Canadian Business has partnered with Reputation Institute to conduct a study on corporate reputations in Canada. For several years, Reputation Institute has conducted similar studies of U.S. and global companies in partnership with Forbes Magazine and has come to be viewed as the gold standard measure of corporate reputation around the world.

About Scotiabank
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Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 68,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 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 more than $507 billion in assets (as at January 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

Scotiabank is committed to supporting the communities in which we live and work, both in Canada and abroad. Recognized as a leader internationally and among Canadian corporations for its charitable donations and philanthropic activities, in 2009 the Bank provided about $39 million in sponsorships and donations to a variety of projects and initiatives, primarily in the areas of healthcare, education, social services and arts and culture. Visit us at www.scotiabank.com.