EBL wins JP Morgan award

Eastern Bank Ltd (EBL) has recently been awarded a JP Morgan "US Dollar Clearing MT202 Elite Quality Recognition Award" for exceeding JP Morgan's Straight Through Processing (STP) performance benchmark. 

Ali Reza Iftekhar, managing director of the EBL, received the award from Sazzad Anam, executive director of JP Morgan Chase Bank NA Bangladesh Representative Office, at a ceremony in the EBL head office, said a press release.

"This award is a recognition of the EBL's commitment to high quality performance," said Iftekhar.

The award recognises STP rates above 99.70 per cent and the EBL maintained 99.98 per cent.

JP Morgan has been awarding US Dollar clearing clients who achieved operational excellence by properly formatting their swift payments since 1997.