Araratbank won prestigious Commerzbank AG prize "Excellent quality"  for sixth time 

ArmInfo. Araratbank for the sixth time became the owner of the prestigious Commerzbank AG prize "Excellent quality" (Excellent STP Quality Award). As the press  service of the Bank told ArmInfo, the prize was awarded on the basis  of the results of 2017 for the highest quality of transactions by  SWIFT system.

Araratbank provided high quality of money transfers in 2017 due to  the improvement of the automated system of instant formatting and  execution of transfers, and ensuring, as soon as possible, the  availability of beneficiaries to transfers. International transfers  in the form of STP (Straight Through Processing) - is compliance with  payment formatting standards, allowing their execution in automatic  mode without manual processing, due to which the maximum speed of  transfers is provided.

David Harutyunyan, First Deputy Executive Director of Araratbank,  said: "The award of this award from the authoritative structure  represented by Commerzbank AG is a high appraisal of the activity and  guarantee of stable and effective cooperation with ARARATBANK .In  parallel with the preservation of the quality of provided services,  Araratbank provided 80% increase in the volume of remittances, I  assure our clients that the bank will continue to keep the quality of  service in the focus of attention. "

Since 2012, ARARATBANK has been awarded the "STP-Award" of  Commerzbank every year and for the sixth time it has won the  "Excellent Quality" bank award.

"ARARATBANK" OJSC has been operating since November 2005. The  majority shareholders of the bank on January 1, 2018 are one of the  largest oil traders in Armenia - Flush company with a 72.73% stake in  the capital, Barsegh Beglaryan (famous entrepreneur, the head of  Flash) - 18.33%, Rural Impulse Fund II (part of the Belgian Incofin  Investment Management - Incofin IM) - 8.58%.