TORONTO, Feb. 25, 2022 /CNW/ - Scotiabank today announced it has been named Financial Issuer of the Year by International Financing Review (IFR) Magazine, a Refinitiv publication, in recognition of the Bank's leadership in funding strategy and capital innovation. The annual award recognizes one global financial institution for precision and excellence in its treasury funding program.

"Scotiabank has always employed a strategy of innovation, agility and diversification to deliver consistent results," said Tom McGuire, Executive Vice President and Group Treasurer at Scotiabank. "This strategy has continued to serve us extremely well – even in a transition year like 2021. This award recognizes the skill and creativity of the Group Treasury team and the hard work and collaboration of our colleagues in Global Banking and Markets."

Scotiabank's funding program had a record-breaking year in 2021, achieving multiple firsts across 19 benchmark transactions. In October 2021, Scotiabank issued the largest single tranche of U.S. dollar-denominated covered bonds to date. In the euro and sterling markets, Scotiabank also had the largest covered bond issuances of 2021.

In addition, Scotiabank received the IFR North America Financial Bond of the Year award for the Bank's limited resource capital note (LRCN) issuance in September 2021. This transaction introduced the first tax-deductible LRCN from a Canadian bank to the U.S. dollar market.

To read more about Scotiabank's funding strategy visit www.scotiabank.com/investorrelations.

About Scotiabank

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 approximately 90,000 employees and assets of approximately $1.2 trillion (as at October 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank