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Sberbank of Russia

August 23, 2004

Press release

Today, on the premises of Sberbank's Head Office at 19 Vavilova Street, Moscow, representatives of JPMorgan Chase Bank (USA) presented an "Elite Quality Recognition Award for Straight-Through Processing in Excess of 99 p.c." to Sberbank, for the achievement of high quality of the US Dollar payments routed through the correspondent account at JPMorgan Chase Bank, NY.
At the presentation ceremony, JPMorgan representatives specifically marked the exceptionally high quality of Sberbank's formatted payments in US Dollars and assured of their intention to provide services at the same level of quality.
It is important to note that Sberbank has deserved this award for the third year in succession. JPMorgan Chase Bank has presented similar awards to Sberbank in October 2002, for the achievement of the 100 p.c. straight-though processing rate of the US Dollar-nominated payments, and in September 2003 for straight-through processing in excess of 99 p.c., in US Dollars.
In addition, in the years 2001-2004, the invariably superb quality of Sberbank's payments has been repeatedly marked by the other two US correspondents - The Bank of New York, NY and Deutsche Bank Trust Company Americas, NY.
These international awards serve as an obvious recognition of Sberbank's success in improving quality of payment formatting, use of efficient settlement techniques and permanent attention to the needs and requirements of its customers.

International Relations Department

 

 

 

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