TORONTO, Aug. 18, 2011 /CNW/ - For the third year in a row Scotiabank has been named the Best Trade Bank in Central America and Caribbean by Trade Finance Magazine's Global Awards for Excellence. The Bank was also recognized as Best International Trade Bank in Peru, for the second year in a row.

"Scotiabank is pleased to be the recipient of these awards and we want to thank the readers of Trade Finance magazine who acknowledged Scotiabank's outstanding service by voting for us in this year's poll," said Alberta G. Cefis, Executive Vice-President & Head, Global Transaction Banking (GTB), Scotiabank, "Scotiabank's continued success and strength in Latin America, Central America and the Caribbean is a result of the Bank's dedication to providing our customers around the world with relevant products and services."

The Awards for Excellence is an annual event and is based on a readers' poll. Voting is conducted through the Trade Finance Magazine website from early April to mid-May each year.

"These awards reflect the commitment of Scotiabank's Global Transactions Banking (GTB) unit to serve its clients with integrated and seamless cross-border trade solutions," said Paul LeBlanc, Senior Vice-President, Trade Services and Financial Institutions, GTB, Scotiabank, "As Canada's most international bank we are proud to be recognized for our exceptional range and depth of trade services provided in these regions."

Scotiabank is the leading bank in the Caribbean and Central America and has had operations in the region for more than 120 years. With more than 15,000 employees and 467 branches across 27 countries in the region, the Bank serves more than two million customers and offers a variety of trade services, retail banking services and selected commercial financial services.

Scotiabank Peru is the third-largest bank in Peru, with more than 9,300 employees, and almost 250 branches across the country. Scotiabank recently introduced a full suite of trade finance products through an online delivery platform in Peru that provides best-in-class technology and convenience to its customers. Scotiabank Peru also offers a wide range of retail, commercial, treasury, corporate and investment services.

Trade Finance Magazine is Euromoney Publications' flagship international trade, export, commodity and supply chain finance publication. The company has been publishing specifically on trade finance for more than 25 years and as such is the longest standing global publication concentrating exclusively on the international trade finance market.

About Scotiabank:

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $571 billion (as at April 30, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.