Award recognizes bank's operational excellence

KUWAIT: ABK recently received the Elite J P Morgan Quality Recognition Award for 2018, acknowledging its operational excellence in straight through processing of commercial payments for 2018. ABK achieved an STP rate of 99.50 percent for the MT103 category of payments, exceeding J.P. Morgan's stringent STP performance standards and therefore qualifying for the Quality Recognition Award.

Sherif Abdelsalam, Executive Director - Treasury Services - Head of GCC Financial Institutions Coverage and Rana Abou Hassan Executive Director - META, Russia and Pakistan - Client Service Manager presented the award on behalf of J P Morgan to Somnath Menon, Group Chief Operating Officer and the ABK operations team.

This award reflects the successful hard work and dedication of ABK's operations team in achieving the best in class in processing and solutions to meet customers financial needs.

J.P. Morgan Chase & Co. is an American multinational banking and financial services holding company headquartered in New York City. It is the largest bank in the United States, and the world's third largest bank by total assets. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.