Scotiabank Community Program

KINGSTON, January 22, 2014 – For the sixth consecutive year Scotiabank has been named as the Best Foreign Exchange Bank in Jamaica by Global Finance magazine. “We are pleased to be named the Best Foreign Exchange Bank in Jamaica by Global Finance magazine and to be recognized for our commitment to offering our customers superior service and market intelligence globally,” said Jacqueline Sharp, President and CEO of Scotiabank Group Jamaica Limited. “Being recognized as a leader in providing Foreign Exchange service for six years running is a testament to the expertise of our team.”

Each year, Global Finance magazine editors rank the Best Foreign Exchange Banks with input from industry analysts, corporate executives and technology experts. Criteria for choosing the winners include transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

“Corporations operating in today’s global markets need the advice, tools and services of a trusted foreign exchange provider.” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “The USD$5.3 trillion per day foreign exchange market is undergoing rapid changes as a result of technology and new regulations. We have identified the banks and systems that corporations can rely on to manage their foreign exchange exposure in every changing market worldwide.”

In 2013, Scotiabank was also named Best Consumer Internet Bank in Jamaica by Global Finance magazine. Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and web site design and functionality. Scotiabank’s customers can buy and sell foreign exchange online and via Scotiabank's mobile app.

“We continue to invest in our internet banking platform to increase functionality and provide more convenient and cost-effective ways for our customers to do their banking. We have seen steady increases in the use of this channel, including for foreign exchange transactions. We want to encourage customers and further build awareness that the platform allows retail customers to sell up to US$10,000 from their accounts daily to the Bank. Other currencies, including CAD, GBP, and Euro may also be exchanged using our internet banking platform,” Mrs Sharp said.