Scotiabank has been named T&T’s Bank of the Year 2020 by The Banker Magazine a Financial Times publication in London, UK. Regarded as the industry standard for banking excellence, The Banker’s Bank of the Year awards judge banks on their ability to deliver results, improve strategic positioning and enhance service to customers. This year, banks were also assessed on their response to the COVID-19 pandemic.
This is the 2nd consecutive year Scotiabank has won the title of Trinidad and Tobago’s best bank and the seventh occasion of being recognised by the publication, having also achieved the title in 2007, 2010, 2013, 2014 and 2016, 2019 and now 2020! This award follows a similar recognition by Global Finance – “Best Bank in Trinidad and Tobago 2020” earlier this year.
Commenting on the Banker award, Stephen Bagnarol – Senior Vice President and Managing Director, Scotiabank Trinidad and Tobago said, “I am so proud of how our employees and customers have adapted to the challenges brought on by the pandemic. From the onset of the virus we mobilised resources quickly and took decisive action to ensure customers and employees stayed protected. Through our digital channels, customers have been able to get their banking done, staying home and staying safe.”
“I thank our customers for their continued loyalty, trust and confidence, as without them this recognition would not be possible. This award is also a reflection of the passion and dedication of our employees. I can’t thank them enough. In these difficult circumstances, they rose to the challenge and continued to deliver excellence for our customers. Many even went beyond the call of duty, volunteering time and donating funds to help those in our communities negatively impacted by the pandemic.” Bagnarol continued.
The bank still remains committed to continuous improvement. “We’re humbled by this award. A lot of work has gone behind it and we have made significant improvements on the digital front. To date, we have 500,000 plus more transactions being done online, most of which are bill payments and transfers.
Customers have embraced how easy digital banking fits into their everyday lives, helping them bank safely and securely at home. Our customer feedback system involves a very hands-on approach and this has enabled us to be even more responsive. We continue to stay close to our customers and our Senior Management Team, including myself do customer calls and actively listen for ways we can improve our service.” he concluded.
This year, Scotiabank was also named the Bank of the Year 2020 in Barbados, Canada and Jamaica.
The Banker Magazine is the world’s longest running international banking magazine, recognized as a leading source of information on finance and investment around the globe. The Banker selects one winning bank for each of the 120 countries judged.
Over 1,000 applications are collected and judges select winning banks based on which ones they believe have made the most progress over the past 12 months.