OREANDA-NEWS. August 08, 2014. Commerzbank AG, Germany, distinguished Sberbank with an "STP Award 2013" in recognition of excellent quality of the payment orders channelled through Sberbank’s Euro correspondent account at Commerzbank AG, Frankfurt/Main, during the year 2013.

As it was pointed out at the presentation ceremony, Sberbank’s straight-through processing rate exceeded 99 p.c. With due regard to the substantial volume of Euro payments, this result brings Sberbank to the leading position amongst all Russian and many foreign banks that maintain accounts with Commerzbank AG.

This international Award serves as a result of productive cooperation of both financial institutions in the area of settlement business and serves as an obvious recognition of Sberbank's success in permanent improving quality of payment formatting.

Photo: Commerzbank officials, Mr. Holger Kautzky, Managing Director, Financial Institutions (third from the right), Mr. Torsten Erdmann, Senior Representative of Moscow Representative Office (second from the right), and Ms. Anastasia Protasova, Relationship Service Manager (first from the left), are presenting the award to Sberbank’s representatives, Mr. Dmitry Efremenko, Head of Settlement Centre, Shared Service Centre (third from the left), Ms. Stella Kudachkina, Head of Correspondent Banking (first from the right), and Ms. Valeriya Popova, Senior Product Manager of Correspondent Banking (second from the left).