OREANDA-NEWS. October 12, 2012. Commerzbank AG,one of Germany’s largest banks, has awarded Promsvyazbank with the STP Award 11 Excellent Quality for its outstanding work in the sphere of international accounting, reported the press-centre of Promsvyazbank.

The award was granted to Promsvyazbank for the high quality international payments conducted by the bank over the last year. Percentage of automatic processing (STP)* is 97% in customer payments and 100% in interbank payments. High quality processing of international payments enables costs to be minimised and processing speeds to be increased.

Promsvyazbank is one of Russia’s leading banks offering services in the international accounting. An extensive network of correspondent accounts and partnerships with major foreign banks provides Promsvyazbank customers with a consistently high level of service in the framework of their international economic activity.

* STP (Straight Through Processing) - A payment involving automatic processing technologies which reduces the cost and time of payment processing.