NBB recognised with Citi 2023 STP Award for Outstanding Payment Processing

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

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The National Bank of Bahrain (NBB) has received the Citi 2023 Straight-Through Processing (STP) Award for its exceptional STP rates in both commercial and treasury payments.

The Bank achieved an impressive 99.5% STP rate for commercial payments and 99.8% for treasury payments, based on Citi’s internal performance data for the calendar year 2023.

The award was presented to NBB’s Ali Abdulkarim, Group Head of Corporate and Commercial Banking, Nabeel Mustafa, Head of Bank Operations and Amal Safar, Head of Correspondent Banking Relationships, in acknowledgement of the Bank’s continued excellence in payment processing and commitment to setting high standards of operational efficiency.

Commenting on the occasion, Ali Abdulkarim, Group Head of Corporate and Commercial Banking at NBB, said: “This award from Citi demonstrates our unwavering dedication to providing seamless and efficient financial services.

Achieving these high STP rates is the result of our strategic focus on enhancing operational capabilities, streamlining processes, and investing in advanced technologies to better serve our clients’ needs.”

The annual Citi STP Award recognises banks that exhibit best-in-class efficiency and accuracy in payment processing.