TORONTO, Sept. 4, 2012 /CNW/ - Scotiabank has been named the 2012 "Best Corporate Internet Bank" in North America under the subcategories of Best Trade Finance Services and Best Online Cash Management by Global Finance magazine.

"We are honoured to be recognized by Global Finance magazine for the ongoing enhancements we've made to support our clients through technology," said Alberta G. Cefis, Executive Vice-President and Head, Global Transaction Banking (GTB). "We know that service delivery through technology is a main factor in bank selection for clients, and we're pleased to see that Scotiabank's investments in cash management and trade platforms are having an impact."

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.

"The Internet has transformed the way many consumers and most businesses bank," said Joseph D. Giarraputo, publisher of Global Finance. "The continuing improvements in Internet offerings represented by this year's entries show that more significant Internet banking developments are still ahead of us."

Global Finance editors, with input from a panel of judges at Infosys, selected the winners based on factors such as the strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, range of product offerings and design and functionality of website.

All the winners will be featured in the September issue of Global Finance and can be found on the magazine's website at www.gfmag.com.

Scotiabank's Global Transaction Banking 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 supply-chain financing services, including electronic banking and payments, trade finance, commercial and business cards, foreign exchange and correspondent banking. In partnership with Scotiabank's International Banking and Global Banking and Markets divisions, Scotiabank clients have access to the Scotiabank network in some 55 countries as well as unmatched NAFTA presence and unique footprint in the Americas.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 81,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets of $670 billion (as at July 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE: Scotiabank