OREANDA-NEWS. June 26, 2008. One of Europe's largest banking institutions and our correspondent bank, Commerzbank AG, Fr/M, regularly evaluates performance of its partners worldwide under the Straight-Through Processing standards and awards the best partners annually.

Commerzbank AG highly appraised professionalism of Belgazprombank employees and flawless STP payment operations for the year 2007. Between January and December, the number of Belgazprombank STP payments via correspondent accounts with Commerzbank AG topped 95%.

At present, Belgazprombank is one of Belarus' leading banking institutions servicing foreign trade settlements. An extensive network of correspondent accounts and partner agreements with top-class international banks provide Belgazprombank's clients with high-level servicing of their foreign trade activities.

What is an STP payment?
Straight Through Processing (STP) enables the entire trade process for capital markets and payment transactions to be conducted electronically. Usage of STP enables orders to be processed, confirmed, cleared and settled in a shorter time period, more cost effectively and with fewer errors.