OREANDA-NEWS. May 17, 2013. Sberbank, Russia’s largest commercial bank in terms of assets and customer base, has been recognized by HSBC Bank plc, London, for the exceptionally high Straight-Through Processing Rate of its payments denominated in British Pounds (GBP) in 2012.

The Straight-Through Processing Rate (STP) is a broadly recognised initiative of the international banking community aimed to optimise the speed at which transactions are processed, and substantially decrease settlement risk, by allowing information that has been electronically entered to be transferred from one party to another in the settlement process without manual intervention.

As it was pointed out at the presentation ceremony, Sberbank has been awarded for the second time in succession since the Award itself was introduced by HSBC in 2011. HSBC Bank plc has been providing Sberbank with GBP cash clearing services for over 21 years.

This international Award serves as an obvious recognition of Sberbank's success in permanent improving quality of payment formatting, developing IT-technologies and heightened attention to the needs and requirements of its customers.

HSBC Holdings Plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,600 offices in over 80 countries and territories in Europe, Hong Kong, Rest of Asia-Pacific, North and Latin America, and the Middle East and North Africa. With assets of USD2,681bn at 31 March 2013, HSBC is one of the world’s largest banking and financial services organisations.

HSBC Russia

HSBC Group operates in Russia through OOO HSBC Bank (RR). HSBC Russia provides a wide range of corporate banking, investment banking and financial markets products and services to corporate and institutional customers.