OREANDA-NEWS. September 20, 2012. Alfa-Bank received the Elite Quality Recognition Award of U.S. largest bank JP MorganChaseBank in late August 2012 for rendering high-quality international settlement services in 2006–2011, reported the press-centre of Alfa-Bank.

Alfa-Bank hence reaffirmed its status of one of the best financial institutions selected by JP MorganChaseBank from more than 6,000 of its correspondent banks worldwide.

The Elite Quality Recognition Award has been granted to the bank annually since 2003 for the high quality of client and inter-bank settlement services denominated in U.S. dollars under SWIFT STP Rules, which makes over 99% of U.S. dollar settlements automatic and maximally rapid.

The recognition by JP MorganChaseBank is the top appraisal of the qualification and professionalism of Alfa-Bank’s management and staff. The annual conferring of the Elite Quality Recognition Award for many years reaffirms the high efficiency of the bank’s system of foreign currency settlement services.

"High-quality client services have always been the No 1 priority of Alfa-Bank, and the quality of settlements is an important indicator of the success of this activity. The JP MorganChaseBank award is another confirmation of the bank’s aspiration to offer top-notch settlement services to its clients," Alfa-Bank Chief Operating Officer Valery Novikov said.