Bank & Insurance

EBL wins JP Morgan’s ‘Elite Quality Recognition Award’

Published : 13 Nov 2021 09:27 PM | Updated : 13 Nov 2021 09:27 PM

Eastern Bank (EBL) has been awarded JP Morgan ‘US Dollar Clearing MT202 Elite Quality Recognition Award’ for exceeding 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 on Wednesday, from Sazzad Anam, executive director and head of JP Morgan Chase Bank NA Bangladesh representative office, said a press release.

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 percent and EBL has exceeded JPM’s stringent STP performance standard by maintaining 99.98 percent STP, the release added. EBL CEO expressed his gratitude to JPM for this recognition and said, this award is recognition of EBL's commitment to high-quality performance.