AUB Receives STP Excellence Award from Citibank

Ahli United Bank (AUB) has been awarded the prestigious ‘Straight-Through-Processing (STP) Excellence Award’ by Citibank NA. This accolade recognizes AUB’s exceptional performance in executing commercial and financial payments in US Dollars.

The award is a reflection of AUB’s outstanding straight-through processing (STP) rates, reaching an impressive 99.7% for MT103 payments during the calendar year 2022. The recognition was presented to Samih Abutaleb, Deputy Group CEO of Technology & Operations, by Aziz Rahman, Managing Director, Head of Europe & MEA Financial Institutions Sales, Treasury and Trade Solutions at Citibank. Also present at the ceremony was Mohamed Alhammadi, Director of Correspondent Banking Group, Head of Middle East, and Pakistan Financial Institutions Sales at Citibank.

“We are immensely honored to receive this highly regarded award from a leading global bank, which highlights AUB’s advanced technological solutions and dedicated team. This award serves as a testament to our commitment to meet international standards for intranational US Dollar payments and our dedication to delivering excellent and reliable services to our valued clients in a timely manner,” said Samih.

Mohamed Alhammadi expressed his admiration, stating, “This is a remarkable achievement for AUB, and we take great pride in recognizing their success.” This recent accolade adds to AUB’s impressive list of accomplishments, including two STP Elite Quality Recognition 2022 awards from JP Morgan, the title of Best Bank in Bahrain 2023 from Global Finance, as well as being named Best Trade Finance Provider, Best Private Bank, and Best Bank for Treasury & Cash Management in Bahrain 2023 by Global Finance, among others.

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