Scotiabank has been named Bank of the Year in Canada 2001 by the global banking industry magazine, The Banker.

The results of the second annual Banker Awards that recognize the best in banking from across the globe, were announced in the magazine’s September issue and will be formally presented tonight during a ceremony at the Dorchester Hotel, London, England.

“This award recognizes a great team of people in Canada and around the world,” said Peter Godsoe, Chairman and CEO of Scotiabank. “It also recognizes our clear strategy for the future: to stay completely focussed on our customers – delivering financial services anytime, anywhere, either via our Canadian and international network of branches and offices or using leading- edge technology.”

The selection panel for the award, comprising the magazine’s global editorial team, evaluated each institution on a range of criteria including financial statistics, technological innovation and the suitability of corporate structure and strategy to maximize market share. The awards panel examined each bank’s performance over the previous year and appraised prospects for the year ahead.

“We selected Scotiabank for its innovative approach to technology and readiness to diversify into new business lines and markets,” said Stephen Timewell, editor of The Banker.