Eastern Bank Limited (EBL) has been awarded JP Morgan 'U.S. Dollar Clearing MT202 Elite Quality Recognition Award' for exceeding JP Morgan's stringent STP performance benchmark.
Ali Reza Iftekhar, Managing Director and CEO of EBL, received the award in a ceremony at EBL Head Office from Sazzad Anam, Executive Director and Head of JP Morgan Chase Bank N.A Bangladesh Representative Office today, 10 November, said a press release.
JP Morgan has been awarding selected US Dollar clearing clients since 1997, who have managed to successfully achieve a first-rate level of operational excellence and exemplary straight-though results by properly formatting their swift payments.
This award is given to clients who achieve a straight-through-processing (STP) rate above 99.70% and EBL has exceeded JPM's stringent STP performance standard by maintaining 99.98% STP.
EBL CEO expressed his gratitude to JPM for this recognition and said, "This award is recognition of EBL's commitment to high-quality performance."
He also thanked team EBL for persistently maintaining the standard and upholding the image of the bank.