Dhaka : Eastern Bank Limited (EBL) has been awarded JP Morgan 'US Dollar Clearing MT202 Elite Quality Recognition Award' for excee-ding 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 NA Bangladesh Representative Office on November 10.
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 STP rate above 99.70 per cent and EBL has exceeded JPM's stringent STP performance standard by maintaining 99.98 per cent STP.
EBL CEO ex-pressed his gratitude to JPM for this recognition and said that, 'this award is recognition to EBL's commitment to high quality performance.' He also thanked team EBL for persistently maintaining the standard and upholding the image of the bank.
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