NBB awarded best-in-class STP rates from JP Morgan

The National Bank of Bahrain (NBB) was awarded the ‘Elite Quality Recognition Award’ by JP Morgan for exceptional performance in individual US Dollar transfers.

The award recognises the bank’s achievements in best-in-class straight-through processing (STP) rates with a 99.3 per cent STP rate based on JP Morgan’s personal data gathered.

Sherif Abdel Salam, executive director – head of GCC and Turkey FIG of JP Morgan, presented the award to NBB, represented by Nabeel Mustafa, acting head of bank operations department, Mona Radhi, team leader for financial institutions, and Narjes Al Ansari, group head of remittances and clearing at the NBB group.

Commenting on the award, Mr Mustafa said: “We are proud to be receiving this award from JP Morgan, a global leader in the banking industry and a longstanding correspondent with the bank. NBB has always made it a priority to improve its payment experience for both our counterparties and customers, with a focus on clean payment processing for cross border USD payments as a key part of that experience. NBB continues its commitment towards improving service levels to provide seamless processing in a fast-moving market.”

It is worth mentioning that since 1997, JP Morgan has presented awards to outstanding efforts in achieving the best STP.

As the leading national bank, NBB maintains an array of quality services positioning it as a regional leader in the industry and maintains its commitment towards achieving the kingdom’s Vision 2030.

Source: https://www.gdnonline.com/Details/1016636/NBB-awarded-best-in-class-STP-rates-from-JP-Morgan