YEREVAN, April 7. / ARKA /. The Austrian Raiffeisen Bank International, a correspondent bank for Armenia-based ACBA- CREDIT AGRICOLE BANK, has awarded the latter a certificate of quality in recognition of its excellent handling of SWIFT electronic interbank payments.

According to a news release by ACBA- CREDIT AGRICOLE BANK, it was awarded the certificate for implementing money transfers in accordance with international standards which do not require staff intervention.

According to the news release, 99.9% of the Bank’s money transfers comply with international Straight Through Processing standard.

ACBA -CREDIT AGRICOLE BANK (formerly the Agricultural Cooperative Bank of Armenia, ACBA) was established in 1995 as part of EU TACIS Program. In September 2006, CREDIT AGRICOLE banking group bought a large stake in it becoming its largest shareholder. -0-