TransCreditBank awarded by Commerzbank AG

TransCreditBank wins STP Award 2008 of Commerzbank AG in recognition of high quality of commercial payments and financial transfers formatted for straight-through processing.

TransCreditBank has been awarded for excellent quality of formatting payments routed via its nostro correspondent account in euro with Commerzbank during 2008. TransCreditBank achieved one of the best results of straight-through processed payments (up to 96 %) among correspondent banks in Russia, said Mr. Axel Bommersheim, Senior Vice President of Commerzbank at the award ceremony.

Commerzbank AG is one of the oldest commercial banks in Europe. Established in 1870, it occupies the second place by assets in Germany and stands first by number of branches and offices, as well as by financing German foreign trade. Commerzbank AG is a partner of TransCreditBank in settlements, syndicated loans and trade finance operations.

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