Scotiabank Contributes Cdn $250,000 to Chile Earthquake Relief Efforts

TORONTO, March 1 /CNW/ - Scotiabank today opened its branches for donations to the Canadian Red Cross' Chile Earthquake Relief Fund and reinforced compassionate support efforts with a Cdn $250,000 corporate contribution.

"Our thoughts are with the people of Chile," said Dieter Jentsch, Executive Vice-President, Latin America, Scotiabank. "We are pleased to support the Red Cross efforts to help alleviate some of the misfortune suffered during this difficult period."

Scotiabank first entered the Chilean market in 1990 with a 25 per cent stake in Banco Sud Americano. In 2000, the Bank increased its ownership and in 2001, re-branded the subsidiary as Scotiabank Sud Americano. In 2007, Scotiabank acquired Banco del Desarrollo to become Chile's sixth largest bank.

Scotiabank now has 3,665 employees, 143 branches and two data centres in Chile. Two thirds of the Bank's branches opened for business today. The Bank is actively contacting employees, beginning with those in Maule and Biobio, the regions most affected by the earthquake. Most employees in these regions are accounted for. Automated banking machines and online banking services continue to function.

"Our Chilean management team and staff did an excellent job over the weekend, first reaching out to our employees and then working to ensure that our services will be available to our customers," added Mr. Jentsch.

Scotiabank is committed to supporting the communities in which we live and work, both in Canada and abroad. Recognized as a leader internationally and among Canadian corporations for its charitable donations and philanthropic activities, in 2009 the Bank provided about $39 million in sponsorships and donations to a variety of projects and initiatives, primarily in the areas of healthcare, education, social services and arts and culture. Visit us at www.scotiabank.com.

For further information: Joe Konecny at [phone] or [email protected]