TORONTO, June 29 /CNW/ - Scotiabank has been recognized as the Best Trade Bank in Central America and the Caribbean by Trade Finance magazine for the second year in a row. The magazine also named Scotiabank the Best International Trade Bank in Peru.

"We'd like to thank Trade Finance magazine for these awards and express our gratitude to readers for recognizing Scotiabank," said Alberta G. Cefis, Executive Vice-President & Head, Global Transaction Banking (GTB), Scotiabank. "We are very proud of the continued strength of Scotiabank's trade business in the Caribbean and Latin America. These awards recognize the commitment of our GTB unit to providing seamless domestic and cross-border trade solutions, such as buyer credits and subsidiary financing, across our global network. We provide our customers with coverage across these regions and the products and services they need to succeed in today's global marketplace."

Scotiabank's GTB unit offers corporate and commercial clients a diverse portfolio of deposit, trade credit and transaction services to support operations in their country of origin and internationally.

"By working closely with the teams of local employees in the regions, we are able to provide relevant and timely expertise to our clients across the globe," said Ms. Cefis. "Our strategic focus is to offer expanded and integrated trade capabilities worldwide to meet our clients' needs wherever they do business."

The Global Awards represent the opinions of over 13,000 readers based on the services provided in selected trade sectors and regions. Readers voted for this year's categories through the Trade Finance magazine website during April and May 2010.

About Scotiabank

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 $526 billion in assets (as at April 30, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

About Global Transaction Banking

Scotiabank's Global Transaction Banking (GTB) business provides financial solutions to commercial and corporate clients domestically and around the world. Scotiabank, through its GTB unit, currently offers a wide variety of trade and correspondent banking solutions, as well as cash management, electronic banking and payments, commercial and business cards and foreign exchange. In partnership with Scotiabank's International Banking Division and Scotia Capital, Scotiabank clients have access to the Scotiabank network in some 50 countries as well as unmatched NAFTA presence and unique footprint in the Americas.