OREANDA-NEWS. On July 24, 2008 a delegation from JPMorgan Chase Bank, USA, headed by Ms. Natalya Kroupnova, Managing Director, Head of Corporate Banking, Russia & CIS, presented their 2007 Quality Recognition Award to Sberbank at its Moscow Head Office at 19 Vavilova St.  JPMorgan Chase has awarded Sberbank for excellent quality of formatting US dollar payments channelled through Sberbank's Nostro correspondent account with JPMorgan Chase Bank, NY in 2007, reported the press-centre of Sberbank.

At the ceremony, JPMorgan Chase Bank representatives noted that with the significant number of commercial payments routed through the correspondent account over the past year, Sberbank managed to achieve an exceptional 98,9% STP rate. This is one of the best results among JPMorgan Chase Bank's correspondents.

Replying to the congratulations from her US colleagues, Ms. Olga Kanovich, Senior Vice President of Sberbank, emphasised that development of the payment business is one of Sberbank's key areas, and that this international award evidences that Sberbank has made the right choice in aiming for rapid technological modernisation of business processes including customer service and settlements alongside striving to increase its overall and per employee efficiency.

In previous years, JPMorgan Chase Bank also honoured Sberbank for high quality of payment formatting, exceptional STP rates and active utilisation of other banking products.