OREANDA-NEWS. June 25, 2007. The representatives of The Bank of New York, NY, USA awarded Sberbank a regular award "In Recognition of Your Outstanding Payment Formatting and Overall Technical Performance 2006"  at Sberbank's Head Office for the achievements of high quality of the US Dollar payments routed through Sberbank's correspondent account at The Bank of New York during the year 2006.
It was specifically emphasised at the presentation ceremony that with the straight-through processing rate of over 99 p.c. Sberbank stands the indisputable leader amongst all Russian and many foreign banks that maintain accounts with The Bank of New York.
Mr. William Williams, Executive Vice President of The Bank of New York, also pointed out that the award is considered not only as an evidence of Sberbank's technological achievements but also as a sign of the close partnership established between the two financial institutions, which has been lasting for many consecutive years.

Responding to the greetings from their US colleagues, Sberbank's representatives stressed that this award was a natural result of serious investment that Sberbank had made in technologies and computerization of its payment systems, high-skilled personnel and the Bank's aspiration to the properly satisfy the customers' changeable requirements and needs.
In 2002, 2004-2006, The Bank of New York, Sberbank's main US Dollar clearing institution, also honoured Sberbank for high quality of payment formatting and exceptional STP rate with the awards for "Outstanding Payments Straight-Through Rate and High Use of Direct Customer Inquiry for the Year 2001", "The Highest Quality for Payments Formatting and Straight-Through Rate in 2003", "In Recognition of Your Outstanding Payment Formatting and STP Rate in 2004" and "In Recognition of Your Outstanding Payment Formatting and Overall Technical Performance 2005" respectively.
These international awards serve as an obvious recognition of Sberbank's success in improving quality of payments formatting, use of efficient settlement techniques and permanent attention to the needs and requirements of its clients.