TORONTO, Aug. 22, 2011 /CNW/ - Scotiabank today announced ScotiaMocatta has for the third year in a row been recognized as "Best Bullion Bank" for 2010-2011 by the Bombay Bullion Association (BBA), a major centre for gold and silver trading in India. The award was presented to ScotiaMocatta during the eighth annual India International Gold Convention held last week in Kerala, India.

"At ScotiaMocatta, we are honoured to receive this recognition from the Bombay Bullion Association for a third year in a row - underscoring our ongoing dedication to our customers and the highest standards of excellence and position as a global leader in metals trading and finance," said Barry Wainstein, Vice-Chairman and Deputy Head, Global Capital Markets and Global Head, Foreign Exchange and Precious Metals, Scotia Capital. "ScotiaMocatta distinguishes itself by building long-standing relationships with its clients through exceptional service, liquidity and competitive pricing. This client-focused operating philosophy is a cornerstone of our business."

The Best Bullion Bank award recognizes ScotiaMocatta's ability to maintain a high standard of client service, a consistent supply of physical metals, a broad variety of competitive products and services, and unique expertise in bullion trading. Award recipients are chosen through voting by a wide spectrum of wholesalers, retail jewelers and manufacturers in Maharashtra, India's third-largest state by area and second largest by population. Established in 1948, the BBA is one of the oldest associations of jewelers and traders and today comprises of more than a 1,000 members.

ScotiaMocatta, the precious and base metals division of the Scotiabank Group, is a global leader in metals trading and finance, with roots dating back to 1671. ScotiaMocatta is the Chairman of the London Silver Fixing, the longest tenured member of the London Gold Fixing, and a leading market-maker with operations worldwide. ScotiaMocatta serves a diverse clientele of producers and consumers of precious and base metals across a variety of industries. For more information, please visit www.scotiamocatta.com.

Scotia Capital is the global corporate and investment banking and capital markets division of the Scotiabank Group. We help corporate, institutional and government clients in Canada and around the globe seize opportunities, unlock value, and achieve their financial goals. Scotia Capital has 29 offices and more than 300 relationship managers organized around industry specialties. For more information, please visit www.scotiacapital.com.

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.