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Scotiabank, located at the corner of Frederick Street and Independence Square, Port-of-Spain.

Scotiabank has been named the best bank in Trinidad and Tobago according to Global Finance Magazine.

The Global Finance Magazine selects the best financial institutions around the world every year.

Global Finance editors, with input from industry analysts, corporate executives and technology experts, select the winners for the Best Bank Awards using entries provided by banks and other providers, as well as independent researchers.

Judging incorporates criteria—including knowledge of local conditions and customer needs, financial strength and safety, strategic relationships and governance, competitive pricing, capital investment and innovation in products and services. The winners are not always the biggest, but rather the best: those with qualities that should be looked for when choosing a provider.

“We’re very excited about earning the title of Best Bank 2020 here in Trinidad and Tobago. This award shows we are well prepared to weather this storm, backed by a solid balance sheet, robust liquidity, a strong and dedicated team, and significant digital advancements made over the past five years. I thank our employees and customers for their continued loyalty, trust and confidence as we face this challenging time together” Stephen Bagnarol the Managing Director of Scotiabank Trinidad and Tobago said.

“2020 has certainly been an unprecedented year as the COVID-19 crisis unfolds. We entered the pandemic in a position of strength and immediately responded with assistance to our customers, providing financial relief. To date, we have helped over 64,000 customers with loan deferral programmes, waiving of fees and penalties, and rate reductions. Our investments in transforming our business digitally has enabled us to provide our customers with the support they need to conduct their banking safely and remotely as we take measures to curb the spread of the virus,” Bagnarol said.

Scotiabank Bahamas and Turks and Caicos who were also named Best Bank 2020 in their respective jurisdictions.

(Joel Julien)