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Kingston, Friday, July 9, 2010: At a gala dinner in London last night, Euromoney announced the winners of its Awards for Excellence – the most prestigious awards in the global banking industry. The dinner was attended by 450 of the leading bankers and investment bankers from around the world.

Scotiabank Jamaica was awarded the title of Best Bank in Jamaica, and is the only Scotiabank location in Latin America and the Caribbean to receive an award this year.

“Scotiabank Jamaica’s profits rose 30% to $131.5 million and net interest income also rose to $47 million at the end of 2009”, said Euromoney. “For the first quarter of 2010 pre-tax profit rose to $34.6 million, $1 million up on the same period in 2009, illustrating the bank’s solid performance over the past 12 months.”

Bruce Bowen, President and CEO, Scotiabank Jamaica, said: “This is the fourth year that Scotiabank is being recognized for its performance as an outstanding financial institution in Jamaica; and for us this is a global recognition of our strategy to remain relevant and profitable as well as a tribute to our 2,500 employees and their efforts on behalf of our customers.” Scotiabank was named Best Bank in Jamaica by Euromoney Magazine in 2006, 2008, 2009 and 2010.

ABOUT EUROMONEY AWARDS FOR EXCELLENCE
Since 1992 Euromoney, the world’s leading financial markets magazine, has singled out the outstanding institutions in finance. Over the years, the Awards for Excellence have evolved with the markets they cover. They now incorporate 25 global awards for banking and capital markets; and awards for the best banks and securities houses in almost 100 countries around the world. All the awards have one central theme – they recognise institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel. Banks are invited to submit their credentials for the awards which, after analysis and interview, are decided by a committee of senior Euromoney journalists chaired by the magazine’s editor, Clive Horwood.