OREANDA-NEWS. August 10, 2010. A delegation from JPMorgan Chase Bank, USA, headed by Mr. Natarajan Sethumadhavan, Managing Director, Head of FI Sales, EMEA Treasury Services, presented a Quality Recognition Award for Outstanding Achievement of 2009-2010 Best-in-Class STP Rates and Quality Recognition Award for Book Transfers to Sberbank on the premises of its Central Head Office, reported the press-centre of Sberbank.

These awards are in acknowledgment of Sberbank’s excellenсе in formatting payments channelled in 2009 through its Nostro US Dollar correspondent account with JPMorgan Chase Bank, New York.

With the outstanding annual volume of commercial payments, Sberbank reached a 98.9% STP-rate in 2009, which is one of the best results amongst all Russian banks maintaining correspondent accounts with JPMorgan Chase Bank.

At the ceremony, JPMorgan Chase Bank representatives emphasised high professionalism of Sberbank’s employees and management in formatting US Dollar payments.

Having thanked JPMorgan Chase Bank officials for their high assessment, Ms. Olga Kanovich, Senior Vice-President, underlined that this success was the consequence of close cooperation with JPMorgan Chase Bank, and outlined Sberbank’s plans to enhance this achievement.

JPMorgan Chase Bank has distinguished Sberbank for high quality of payment formatting and exceptional STP rates for 9 consecutive years.