LOCKO-Bank Receives Commerzbank STP Award 2013

Commerzbank AG presented LOCKO-Bank with STP Award 2013 in honor of excellent quality in the delivery of commercial payments and financial institution transfers. The award was granted to LOCKO-Bank for recognition of the high-level international payments quality in EUR. The percentage of automatic processing (STP)* was 100% in customer and interbank payments in December 2013.

STP (Straight Through Processing) - a payment formatting standard involving automatic processing technologies which reduces the cost, time of payment processing and settlement risk.

Andrey Lyushin, Deputy Chairman of the Executive Board, commented:

“Good service quality is one of the key indicators of bank’s reliability. The award confirms LOCKO-Bank’s high quality standards of international settlements and proves the effectiveness of payment processing technologies. We are grateful to Commerzbank management for recognition of our performance quality.”