AUB gets STP Excellence award from Citibank

TDT | Manama                   

The Daily Tribune – www.newsofbahrain.com

Ahli United Bank (AUB) has received the ‘Straight-Through-Processing (STP) Excellence Award’ from Citibank NA in recognition of its outstanding performance in the execution of commercial and financial payments in US Dollars.

The award reflects AUB’s best-in-class straight-through processing (STP) rates for the calendar year 2022 at 99.7% for MT103 payments. It was handed over to Samih Abutaleb, Deputy Group CEO Technology & Operations, by Aziz Rahman, Managing Director, Head of Europe & MEA Financial Institutions Sales, Treasury and Trade Solutions at Citibank, and Mohamed Alhammadi, Director of Correspondent Banking Group, Head of Middle East, and Pakistan Financial Institutions Sales at Citibank.

“We are honoured to receive this prestigious award from a leading international bank, which highlights AUB’s advanced technological solutions and dedicated team. This award is a testament to our efforts to meet global standards concerning intranational payments in US Dollars, and our commitment to delivering excellent and reliable services to our valued clients in a timely manner”, said Samih.

“This is a great accomplishment for AUB, and we are proud to recognise their achievement.” said Mohamed Alhammadi. This recognition adds to the Bank’s recent streak of achievements, including two STP Elite Quality Recognition 2022 awards from JP Morgan; Best Bank in Bahrain 2023 title from Global Finance; as well as Best Trade Finance Provider in Bahrain, Best Private Bank in Bahrain, and Best Bank for Treasury & Cash Management in Bahrain 2023 titles from Global Finance, among others.