AUB receives Citi’s STP quality award

Manama  : Ahli United Bank (AUB) has been granted the prestigious Straight Through Processing (STP) Quality Award 2015 by Citi, in recognition of the bank’s outstanding performance in executing international payments in US dollar.

Citi’s STP awards are given to selected banks around the world which meet the highest global standards in clearing client funds transfer, trade finance and international settlements as reflected in achieving highest STP rates, i.e. the percentage of automated payment transactions that are completed without additional manual intervention. AUB won the Citi award having achieved an outstanding STP rate of 95 per cent and above for 2015.

Citi presented the award during a brief ceremony held at AUB’s headquarters in Seef. Usman Ahmed, CEO of Citi Bahrain, commented: “Citi is delighted to recognise Ahli United Bank through this prestigious award, which is a testament to the commitment of both AUB and Citi to respond to our clients’ needs for smooth and efficient processing of payments. The STP award is part of our commitment to reward best practices in the banking industry in Bahrain and the region. We look forward to continuing our strong partnership with AUB and congratulate the team on winning this award.”

Accepting the award on behalf of AUB, Shafqat Anwar, Deputy Group CEO, Operations and Technology, said, “It is gratifying to receive this award from Citi, the global bank with whom we continue to enjoy a longstanding and fruitful cooperation. This award confirms once again that money transfers through AUB are among the most efficient, fast and error-free out there, and is a further testament to our uncompromising commitment to be the trusted, reliable and preferred financial services provider to our customers at all times.”