Scotiabank Leasing Group Adds Proficom Financial Corporation to Its Growing Lease Platform

-- Purchase made through Roynat Lease Finance --

TORONTO, May 25, 2012 /CNW/ - Scotiabank Leasing Group today announced the acquisition of Proficom Financial Corporation, a Montreal based company that specializes in equipment financing.  The deal, which will close on June 1, is not financially material to Scotiabank and terms were not disclosed.

"The addition of Proficom to our leasing platform strengthens our reach in Eastern Canada and our overall position in the country's growing lease financing market," said Joe LaLeggia, Managing Director & Head, Scotiabank Leasing Group.  "Their team brings with them a high level of expertise in equipment financing, making them a great fit with our line-up of leasing solutions."

The purchase was made through Roynat Lease Finance, the leasing arm of Roynat Inc., a Scotiabank company that provides tailored financial solutions to small to mid-sized companies.

About Roynat

Since 1962, Roynat Inc. has been delivering creative capital solutions to businesses across North America. With offices nationwide, Roynat offers financing alternatives by drawing on a broad range of financial solutions including term loans, asset based lending, leasing, subordinated debt and equity. Roynat Inc. is a wholly owned subsidiary of Scotiabank. For more information, please visit www.roynat.com

About Scotiabank

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 77,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets of $637 billion (as at January 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

Media Contact:

Crystal Jongeward, [email protected], 416-933-3056