TORONTO, ONTARIO - Nov. 5, 2013 /CNW/ - Scotiabank has been named Bank of the Year in the Caribbean by LatinFinance for its strength in the region.

"We are pleased to be named Bank of the Year in the Caribbean by LatinFinance," said Bruce Bowen, Scotiabank Senior Vice President for the Caribbean Region. "Scotiabank has had a presence in the Caribbean for almost 125 years and today we have the largest presence of any financial services company in the region. We have built our success by staying focused on our customers to help them discover what's possible while investing in our people and supporting our communities across the Caribbean."

The winner is chosen by LatinFinance editors by weighing financial data and market opinion including those of analyst and rating agencies between July 2012 and June 2013. Banks are judged in the following categories:

• Financial strength, including capitalization and liquidity;
• Strategy and adaptation with economic and regulatory changes in the countries where it operates;
• Growth including acquisitions and capital markets activity; and
• The market perception of the brand and public transparency.

"In the case of Bank of the Year in the Caribbean, we recognize that the period was a challenging one for the region and its banks," said Taimur Ahmad, Editor-in-Chief of LatinFinance. "Scotiabank stood out for its large regional footprint, sound risk management practices, and range of services which leaves the Bank well placed to profit under unstable economic activity. Scotiabank is also widely praised by analysts and other experts we surveyed researching this category."

Scotiabank has been widely recognized in 2013 for its strength and stability as well as the products and services it offers. The Bank was named World's Best Consumer Internet Bank in North America, Latin America and the Caribbean by Global Finance Magazine in 2013 for the second year in a row. The Bank was also recognized as Global Bank of the Year and Bank of the Year in the Americas byThe Banker Magazine, a Financial Times publication.

For more information on Latin Finance visit www.latinfinance.com.

About Scotiabank

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 21 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 Bankermagazine, a Financial Times publication. With assets of $743 billion (as at July 31, 2013), Scotiabank trades on the Toronto (TSX:BNS) and New York Exchanges (NYSE:BNS). For more information please visit www.scotiabank.com.

Scotiabank has been part of the Caribbean since 1889 and is a leading bank in the region, with operations in 25 countries. The Bank has more than 10,600 employees, 1035 ABMs and 354 branches, kiosks and other offices in the region, including affiliates.

Scotiabank Media Communications
Vikash Maraj
416-866-6203
vikash.maraj@scotiabank.com
www.scotiabank.com