Deutsche Bank awards NBK Gold 2016 USD and Euro STP Excellence in Kuwait
Exceptional quality in processing dollar, euro-denominated payments
KUWAIT: NBK has been awarded by Deutsche Bank the prestigious USD Gold STP Excellence Award 2016 and Euro Gold STP Excellence Award for leadership and excellence in global electronic payments 2016. The awards recognize NBK’s exceptional quality in processing USD and Euro-denominated payments, as well as the highest rate of Straight Through Processing (STP) overall. A delegation from Deutsche Bank presented the award to NBK recently. At the award ceremony held at NBK’s head office, Deutsche Bank representatives congratulated NBK being the only Bank in Kuwait to receive this award.
Nassif A Chehab, Head of Financial Institutions at NBK said: “We are pleased that we maintain our position among others as the leading bank in electronic payments in Kuwait and continuously achieve the highest standards of correspondent banking emphasizing the prominent standing of NBK and Kuwait’s banking sector among the leading global banks.”
NBK maintained consistency throughout the high volume of remittances during the year whilst observing international standards of payments quality and compliance. This achievement maintains NBK’s position within the top tier of institutions Deutsche Bank works with globally. Deutsche Bank is NBK’s correspondent for USD and euro payments emanating from commercial and customer remittance payments. The Straight through Processing (STP) award is given to a select few international banks each year to highlight their impeccable achievements in processing outgoing payments.
The award emphasizes and underpins NBK’s commitment towards its customers and its credibility assuring fast and efficient payment services with funds reaching the counterparty around the globe as efficiently and quickly as possible.
NBK continues to collectively enjoy the highest credit ratings from the three international rating agencies;
Moody’s, Fitch Ratings and Standard and Poor’s. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team. NBK also maintains its position among the 50 safest banks in the world for the twelfth consecutive year.
NBK Group has the widest banking presence in 4 continents worldwide. NBK’s international presence spans many of the world’s leading financial centers including London, Paris, Geneva, New York and Singapore, as well as China (Shanghai). Meanwhile, regional coverage extends to Saudi Arabia, UAE, Bahrain, Lebanon, Egypt, Jordan, Iraq and Turkey.