TORONTO, June 4, 2013 /CNW/ - Scotiabank has been recognized as the Best Overall Trade Bank in Central America and the Caribbean by Trade Finance Magazine for the fourth time in 5 years. In addition, Scotiabank was highly commended by the magazine for placing second in the Best Trade Bank in Canada category.

"We are honoured to accept this award from Trade Finance Magazine and would like to thank the readers for recognizing Scotiabank's outstanding service," said Paul LeBlanc, Senior Vice-President, Trade Services and Financial Institutions, Global Transaction Banking (GTB), Scotiabank. "Receiving this award reinforces Scotiabank's continued success and strength in Central America and the Caribbean and our commitment to providing our clients with industry-leading trade products and services around the world."

Scotiabank's GTB unit offers corporate and commercial clients integrated business solutions to support operations in their country of origin and internationally.

"We are dedicated to providing our clients with expanded and integrated trade finance solutions and we are proud to be recognized for our expertise and capabilities in these regions," added Mr. LeBlanc.

The 2013 Best Overall Trade Bank Award represents a combination of reader nominations and a market assessment carried out by Euromoney's Trade Finance Magazine.

Scotiabank's Global Transaction Banking (GTB) business provides financial solutions including cash management, payments, trade finance and correspondent banking services to commercial and corporate clients domestically and around the world by drawing on more than 180 years of banking experience to meet evolving client needs. Scotiabank, through its Global Transaction Banking (GTB) unit, currently offers a wide variety of domestic and cross-border trade finance solutions including specialized vendor programs, cross-border buyer credits and subsidiary financing.

Scotiabank is a leading multinational financial services provider and Canada's most international bank. With more than 83,000 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. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $754 billion (as at April 30, 2013), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE: Scotiabank