OREANDA-NEWS. On August 12, 2008 delegation from Deutsche Bank, Germany, headed by Wolfgang Wagner, Managing Director, Head of EEMEA region, Cash Management, Financial Institutions, presented their 2007 USD STP Excellence Award and 2007 EUR STP Excellence Award to Sberbank on the premises of its Central Head Office at 19 Vavilova St., Moscow, reported the press-centre of Sberbank.

Deutsche Bank has awarded Sberbank for excellent quality of formatting payments channelled through Sberbank's Nostro correspondent accounts in US Dollar and Euro with Deutsche Bank Trust Company Americas (USA) и Deutsche Bank AG (Germany) in 2007 respectively.

At the ceremony, Deutsche Bank representatives noted that with the significant number of commercial payments routed through the correspondent accounts over the past year, STP rate reached 99.6% for the USD Nostro account and 96.3% for the EUR Nostro account. Thus Sberbank achieved one of the best results among Deutsche Bank's correspondents both in US Dollars and Euro. According to Deutsche Bank's representatives' appraisal, only 8-10% of their correspondents attained such high STP rate, and by this rate Sberbank is one of the best in the world.

Having thanked DB officials for their high assessment of quality of payments, Olga Kanovich, Senior Vice President of Sberbank, emphasized that development of the settlement business is one of the top priorities for the Bank's performance.

The said international awards from one of the largest financial institutions in the world are the best evidence that Sberbank had made the right choice in aiming for rapid technological modernization of business processes including customer services and settlements alongside striving to increase its per employee efficiency.

In previous years, Deutsche Bank has also honoured Sberbank for high quality of payment formatting and exceptional STP rates.