OREANDA-NEWS. June 10, 2013. A delegation from Deutsche Bank presented “2012 USD STP Excellence Award” and “2012 EUR STP Excellence Award” to Sberbank on the premises of its Central Head Office for excellenсе in formatting payments routed through Sberbank’s Nostro correspondent accounts with Deutsche Bank Trust Company Americas (USA) и Deutsche Bank AG (Germany) respectively.

The Straight-Through Processing (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 emphasized at the award ceremony, with the outstanding annual volume of commercial payments, Sberbank’s STP rate in 2012 reached 99.7% in US Dollars and 98.8% in Euro, which is one of the best results amongst all banks maintaining correspondent accounts with Deutsche Bank.

In the preceding years Deutsche Bank also repeatedly distinguished Sberbank for high quality of payment formatting.