VTB Bank (Deutschland) AG Praises FUIB for Promptness of its Payments

Following the analysis of its cooperation with correspondent banks over 2011 VTB Bank (Deutschland) AG Frankfurt am Main, Germany) included FIRST UKRAINIAN INTERNATIONAL BANK (FUIB) in the list of the best vostro banks characterised by high straight through processing (STP) rate of payments in euro.

High STP rate of a correspondent bank ensures low rate of errors and has a positive effect on its operating expenses that impact respectively the cost of payments for FUIB’s customers. Over 2011 the FUIB’s STP rate was 99.10%, which testifies to high professional competence of the FUIB’s team members as regards the adherence to SWIFT standards and specific requirements to execution of business and bank-to-bank outgoing payments imposed by correspondent banks.

Last year FUIB was also rewarded by Deutsche Bank for exceptional quality of its payments in American dollars over 2010 with the FUIB’s STP rate of 100%, which means that all international payments in American dollars by FUIB’s customers were automatically processed and payment processing time was up to 5 seconds.