Scotiabank has been named Bank of the Year in Canada by The Banker magazine, further solidifying its role as a Leading Bank in the Americas. This is the third consecutive year that Scotiabank has earned the award from the Financial Times-owned publication and follows the Bank’s global recognition as the Most Innovative in Data by The Banker in August.
“The best relationships are forged during challenging times, and I am exceedingly proud of the ways in which our winning team has supported our customers throughout this period,” said Brian Porter, President and Chief Executive Officer at Scotiabank. “They have gone over and above to provide our clients with exceptional advice and a great banking experience, while delivering for our shareholders and communities.”
Building on the most ambitious relief program in the Bank’s history, which was launched at the onset of COVID-19, Scotiabank made considerable investments in its product and service offering to better equip customers to manage through uncertainty and build a more prosperous future for them and their businesses.
Highlights of this year’s recognition include the Bank’s use of data and analytics to identify thousands of its most vulnerable customers, in order to provide them with tailored support and advice to help navigate their financial challenges during the pandemic.
The award also recognizes the Bank’s environmental, social, and governance (ESG) leadership, including the establishment of its Sustainable Finance Group, which provides leading ESG and sustainable finance advice and solutions to corporate, financial, public sector, and institutional clients across Scotiabank’s global footprint. The Bank also launched ScotiaRISE—a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups by providing people with the tools they need to improve their education and employment prospects, adapt to changing circumstances, and increase the likelihood of financial success.
The launch of Advice+, which empowers financial advisors to have deeper, more meaningful conversations with our customers in order to provide them with the right advice to meet their complex and evolving financial needs, is also reflected in this year’s award.
“Across our footprint, our team has risen to the occasion, continuing to put our customers first, and demonstrating time and again why we are a Leading Bank in the Americas,” said Porter. “A heartfelt congratulations to all Scotiabankers on this well-deserved recognition.”
Scotiabank received the award at a virtual ceremony held last night. The Bank also took home wins for its businesses in Bahamas, Barbados, Cayman Islands, and Turks and Caicos.