Bank provided exceptional support to customers, employees, and communities
TORONTO, Nov. 2, 2020 /CNW/ - Scotiabank has been recognized by Global Finance magazine for displaying Outstanding Crisis Leadership in 2020. The program recognizes banks and companies that exceeded expectations in response to the global pandemic, including support for customers, employees, and society at large.
"Since the COVID-19 crisis began, Scotiabankers have gone above and beyond to put our customers first, and to support one another," said Brian Porter, President and Chief Executive Officer at Scotiabank. "We have implemented the most ambitious customer relief program in the Bank's history – providing fast relief to those who need it most – while at the same time giving back to vulnerable members of our communities. I have been with the Bank for nearly 40 years, and I have never been prouder of our winning team."
As a Leading Bank in the Americas, Scotiabank has provided customers across its footprint with support and deferrals on lending products, including mortgages, credit cards, and auto payments. The Bank also launched innovative new programs to help customers manage through the pandemic, such as Bank Your Way, which helps seniors in Canada better navigate banking online.
Throughout the COVID-19 pandemic, the majority of Scotiabank's non-branch employees transitioned to partial or full remote work arrangements, while customer-facing teams continued to provide essential banking services to customers with approximately 90% of branches globally remaining open. The Bank proactively and rapidly deployed extensive measures to ensure premises remained as safe as possible while supporting the wellbeing of all employees. This included access to medical advice, mental health support, assistance for those transitioning to remote work or continuing to serve customers face-to-face, and more.
The Bank is also proud to support communities across its footprint, having committed more than $15 million to support people who are most at risk during the pandemic, including partner programs and ongoing support of hospitals and healthcare professionals. This includes $2.5 million for COVID-19 community response efforts, support for the health and wellbeing of frontline physicians, providing a leg up to small businesses, and a partnership to transform Scotiabank Arena into a giant kitchen to feed frontline healthcare workers and shelters.
"2020 has been a year of both reckoning and resilience," said Porter. "It has also proved that, regardless of the circumstances, Scotiabankers will go over and above to support our customers, employees, and communities, to deliver for every future."
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.2 trillion (as at July 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.