OREANDA-NEWS. June 22, 2010. Joint Stock Company The State Export Import Bank of Ukraine (Ukrexim) received the Deutsche Bank AG Excellence Award as the best correspondent bank in terms of EUR and USD STP clearing quality in 2009, reported the press-centre of Ukreximbank.

During the award ceremony, Ukrexim Board Member Olga Alexieieva emphasized that Deutsche Bank recognition has evidenced high professionalism of Ukrexim personnel and witnessed the efficiency of the Bank’s strategy aimed at technological modernization of all business processes, including those in clearing.

According to Deutsche Bank AG, USD and EURO STP payments by Ukreximbank in 2009 reached 99.7% and 98.9% correspondingly.

“We are targeted to approach 100% STP rate in our settlements as close as possible”, - said Board Member Alexieieva.

As earlier announced, the excellency of Ukreximbank EURO and USD payments has also been honored by the other world-leading financial institutions and Ukreximbank long-standing partners, including Citibank, JP Morgan Chase and Commerzbank AG.

The straight-through processing settlements (STP) are effected automatically and essentially reduce operating expenses.