Scotiabank has been recognized with an international banking award, winning the title of “Best Emerging Market Bank” in Jamaica for 2010 from Global Finance, a leading international finance and investment magazine.

Bruce Bowen, President and CEO of Scotiabank Jamaica said that “Winning an award like this takes concerted effort from a first-class team dedicated to our customers and communities. We are very proud to receive this recognition for the work our employees do every day to meet the needs of our customers and achieve business success.”

This is the seventeenth year that the magazine has selected top banking performers in emerging markets. The criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products. The report covers the best banks in Asia, the Middle East and Africa, Latin America, and Central and Eastern Europe.

“We remain in an unusually challenging environment for banks and their customers,” said Joseph Giarraputo, publisher of Global Finance. “More than ever, customers are demanding superior competence from their banking partners. These are the banks best providing that competence.”

Scotiabank was also awarded the best FX Bank by Global Finance earlier this year.