• Global Finance names Scotiabank Best Consumer Internet Bank in 20 Caribbean Countries
• Best Corporate/Institutional Internet Bank in 11 Caribbean Countries

TORONTO, Oct. 5, 2011 /CNW/ - For the second year in a row Scotiabank has been named the Best Consumer Internet Bank in 20 Caribbean countries by Global Finance. The Bank was also recognized as the Best Corporate/Institutional Internet Bank in 11 countries by the international finance magazine.

"Our continued strength in the Caribbean for more than 120 years is a result of Scotiabank's dedication to providing both our retail and business customers with relevant and high quality service and products," said Claude Norfolk, Senior Vice-President of International Banking, Caribbean, at Scotiabank. "We appreciate the recognition and we want to thank Global Finance for acknowledging our exceptional online services in countries across the region."

Global Finance selects the best financial institutions around the world through its annual awards. The Best Consumer Internet Bank and the Best Corporate/Institutional Internet Bank recognizes the most successful and innovative online banks.

"As Canada's most international bank, we are excited by the innovation in these markets as we strive to bring relevant online banking services to customers across the Caribbean," said Philip Thomas, Senior Vice-President of Non-Branch Channels at Scotiabank. "As online banking evolves, Scotiabank continues to find new ways to provide financial services to a growing number of customers and meet their individual needs."

This is the 12^th year Global Finance has held its banking awards. The winning banks were selected based on the following criteria: strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and web site design and functionality.

Global Finance is an internationally renowned monthly magazine has a circulation of more than 50,000 readers in approximately 160 counties.

"Our clients around the world require a strong online platform to meet their business needs and we're dedicated to providing them with robust business banking and transaction services to achieve their goals," said Alice Eastman, Senior Vice-President of Cash Management and Payment Services, Global Transaction Banking at Scotiabank. "This recognition from Global Finance tells us we're in step with bringing our clients the products and services they need to support their business success."

About Scotiabank

Scotiabank has been part of the Caribbean and Central America since 1889. It is now the leading bank in the region, with operations in 27 countries, including affiliates. The Bank has more than 15,000 employees in the region, including affiliates, serving more than two million customers, with 450 branches, kiosks and other offices, more than 1,000 ABMs.

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 $567 billion (as at July 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.