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Scotiabank named Bank of the Year in Canada for second year in a row

Strategic investments, diversified business have provided strength throughout global pandemic

TORONTO, Dec. 2, 2020 /CNW/ - For the second year in a row, Scotiabank has been named Canadian Bank of the Year by The Banker magazine. Bank of the Year winners are judged on their ability to deliver returns, gain strategic advantage, and serve their markets. This follows Scotiabank's award as the Best Bank in North America for Innovation in Digital Banking by The Banker earlier this year.

"This award demonstrates our commitment to delivering superior products and services to Canadians from coast to coast," said Brian Porter, President and Chief Executive Officer at Scotiabank. "Scotiabankers have shown considerable resilience and agility over the past year, continually going over and above to deliver for our customers and communities while supporting one another. Congratulations to our winning team on this well-deserved recognition."

As the COVID-19 pandemic gained a foothold, Scotiabank undertook the most ambitious customer relief program in its history. Through strong teamwork and collaboration, and supported by the Bank's enhanced digital capabilities, a program that would have typically taken more than a year to design and roll out took the Scotiabank team a matter of weeks. Investments to bolster the accessibility and reach of its mobile app and online channels allowed customers to address many of their needs from home, reducing pressure on contact centres and keeping foot traffic at branches at safe levels.

"Throughout the COVID-19 pandemic, our team has been committed to delivering an exceptional customer experience across all of our banking platforms," said Dan Rees, Group Head, Canadian Banking. "Our frontline teams have continued to deliver critically important banking advice and solutions to our customers, working in tandem with the best-in-class digital solutions we've released to help Canadian households and businesses navigate the pandemic.  I'd like to thank our people across Canada for their hard work and dedication over the past year, and our customers for their patience and positive feedback."

Throughout the pandemic, Scotiabank has been proud to support communities across its footprint, having contributed over $16 million to support people and communities most at risk during the pandemic, including direct contributions for COVID-19 relief, as well as support of hospitals and healthcare professionals.

The award also recognizes Scotiabank's establishment of Global Wealth Management as a distinct business line in 2019 focused on enriching clients' lives across its global footprint. Drawing on its perennially award-winning asset management team and team-based approach to delivering tailored advice and holistic wealth management services—as well as the expertise of institutional money manager Jarislowsky Fraser Ltd and physician-focused MD Financial Management Inc—Global Wealth Management is a key contributor to the Bank's future growth.

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 over 90,000 employees and assets of approximately $1.1 trillion (as at October 31, 2020), 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

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