OREANDA-NEWS. April 18, 2008. The representatives of Dresdner Bank AG, Germany awarded Sberbank with a "Payment Award" in recognition of exceptional performance and remarkable achievement in the international payments business and exceptional quality of formatting payments through Sberbank's correspondent account in Euro at Dresdner Bank AG, Frankfurt/Main, in 2007, reported the press-centre of Sberbank.

At the presentation ceremony the representatives of Dresdner Bank emphasised particularly the fact that with the outstanding annual volume of commercial payments Sberbank provides a nearly 99% STP-rate (Straight Through Processing), the best result among not only Russian but also East European banks maintaining accounts with Dresdner Bank.

The ever higher STP-rate of Sberbank results in reduced manual handling thus minimizing operational risks while processing and executing payments. In return Olga Kanovich, Senior Vice-President of Sberbank, underlined that Sberbank's success was the result of close cooperation with Dresdner Bank, better technologies and professionalism of Sberbank' staff and on-going focus on the needs of its customers. In 2007 Dresdner Bank presented Sberbank with a similar award for high quality of formatting Euro payments in 2006.