Ahli United Bank receives two STP elite quality recognition awards from JP Morg

TDT | Manama                                                

The Daily Tribune – www.newsofbahrain.com     

Ahli United Bank BSC (AUB) has been awarded two STP Elite Quality Recognition awards by JP Morgan for the year 2022.

AUB said these awards acknowledge the bank’s exceptional straight-through processing (STP) rates, an area in which it has a long and proven track record.

JP Morgan has been presenting this award since 1997 to recognize its clients’ consistent and high-quality funds transfer operations.

In 2022, less than 1% of JP Morgan’s total funds transfer clients qualified for a Quality Recognition Award.

Ahli United Bank excelled in the two categories of this award. Ahli United Bank achieved a perfect score of 100% in the MT202 category, which encompasses transactions over US$8,000, and a score of 99.92% in the MT103 category, which covers transactions over US$10,000.

Samih Abutaleb, Deputy Group Chief Executive Officer – Technology & Operations at AUB received the award from Sherif Abdelsalam - Executive Director and Regional Head of GCC and Turkey Financial Institutions at JP Morgan.

Samih Abutaleb said, “These awards are a testament to the superior efficiency of AUB’s funds transfer operations, made possible by the perseverance, talent, and dedication of our team.

This is also a natural result of AUB’s staunch belief in transformative initiatives across digital services, human capital, and data analytics.”

This recognition adds to the Bank’s recent achievements, including being named Best Bank in Bahrain 2023 by Global Finance, Best Bank in Bahrain 2022 by Euromoney, as well as Best Trade Finance Provider in Bahrain, Best SME Bank in Bahrain, Best Private Bank in Bahrain, and Best Bank for Treasury & Cash Management in Bahrain 2023 by Global Finance, among others.