TORONTO, Dec. 9, 2024 /CNW/ - Scotiabank has been named Bank of the Year in Canada by The Banker, a Financial Times publication. The Bank of the Year awards are regarded as the industry standard for banking excellence across more than 120 countries and recognize financial institutions for their performance and strategic and technological advancements that support their clients.

"This was a milestone year for Scotiabank as we introduced a new enterprise strategy and made important progress against our key priorities, including growing deposits, strengthening our balance sheet, and building deeper, more meaningful primary relationships with our clients," said Scott Thomson, President and CEO, Scotiabank. "This award reflects the hard work and dedication of our team, our momentum to date, and all that we are achieving together."

Highlights from this year include:

• The launch of Scotiabank's new enterprise strategy, which is rooted in its vision of being its clients' most trusted financial partner, to deliver profitable, sustainable growth and maximize total shareholder return. The new all-bank strategy was co-created through a highly collaborative and data-driven process and centres on creating greater connectivity across markets with a focus on the North American corridor.
  
  

• Scotiabank's expanded partnership with Google Cloud, naming it the enterprise platform of choice for the next phase of the Bank's cloud acceleration journey. Google Cloud technology will allow Scotiabank to enhance the client and employee experience, strengthen its security, and adopt new technologies, like generative AI, more quickly, accelerating the Bank's global data and analytics strategy.
  
  

• Progress within the Scene+ program and Scotiabank's broadened suite of credit cards helped grow primary client relationships. Scene+ grew to 15 million members in part due to its ever-expanding list of partners, including Home Hardware, who the Bank partnered with to launch Scotia Home Hardware PRO Visa Business card, designed to support entrepreneurs in the trades and construction industry.
  
  

• The Bank's enterprise-wide Truth and Reconciliation journey, including the launch of its inaugural Truth & Reconciliation Action Plan, a four-year strategy designed to drive meaningful progress towards Reconciliation across six strategic pillars and 37 specific actions.

In addition to the Bank of the Year Canada award, Scotiabank was also recognized as the Bank of the Year in the Bahamas, Barbados, Guyana, Trinidad & Tobago and Turks & Caicos.