KUALA LUMPUR--18 Sep--CNW-AsiaNet/InfoQuest Scotiabank issued the following statement today in the wake of media reports about the bank's operations here. "It is Scotiabank's policy not to comment on rumours or speculation in the media. "However Scotiabank will always look at growth opportunities. The bank is actively seeking international acquisitions as part of our global growth strategy. Our primary acquisition focus is on markets where we have a presence, including Asia, given its long-term potential. "Scotiabank already employs about 90 people in Malaysia and it is very much a market where we would be interested in expanding. The bank has a branch in Labuan, offering corporate and commercial multi-currency loans and trade finance facilities. A second office in Kuala Lumpur offers retail, commercial and trade finance services, with some restrictions on currency, loan size andnon-resident facilities. "Scotiabank operates in 11 countries in the Asia-Pacific and Middle East region, with a total of about 650 employees and 25 branches and offices. Outside Malaysia, the bank also has operations in China, Hong Kong, Egypt, India, Japan, Korea, Singapore, Taiwan and Thailand." Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 55,000 employees, Scotiabank Group and its affiliates serve about 10 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With US$323 billion in assets (as at July 31, 2006), Scotiabank trades on the Toronto (BNS) and New York (BNS) Stock Exchanges. For more information please visit www.scotiabank.com SOURCE: Scotiabank CONTACT: Frank Switzer, at (416) 866-7238, or at [email protected] --Distributed by AsiaNet ( www.asianetnews.net )--