YEREVAN, August 25. /ARKA/.  Yerevan-based Araratbank has been awarded Excellent STP Quality Award 2015 by German Commerzbank AG for ensuring high quality money transfers via SWIFT system in 2015.

‘Araratbank’s partners view this award as an indication of stable and efficient cooperation,’ the press release says.

According to the press release, in relationships with correspondent banks Araratbank processes international wire transfers via STP (Straight Through Processing) solutions where payment transactions are conducted electronically, without manual intervention. This ensures maximum speed for wire transfers.

Araratbank has been given STP Award by Commerzbank each year since 2012 and has been awarded "Quality Excellence" for the fourth time.

ARARATBANK is owned by the European Bank for Reconstruction and Development (25%+1 share), Flash oil trader (64.24%) and Rural Impulse Fund II (10%). The bank joined NASDAQ OMX Armenia stock exchange in 2009.

German Commerzbank AG, founded in 1870 is the second largest bank in Germany by size of assets which stand now at 400 billion euros. Its staff of 36,000 people service about 8 million customers in more than 40 countries around the world. ($ 1 - 474.25 drams) . -- 0--