Doha Bank secures ‘Elite Quality Recognition Award’ in both MT103 and MT202 Awards groups with an exceptional STP rate of 99.15% and 99.7% respectively

Doha Bank, the largest private commercial bank in the State of Qatar, announced today that J.P.Morgan has awarded the bank with its ‘J.P.Morgan Quality Recognition Award’ for 2014. Since 1997, the awards have been acknowledging the consistent, high-quality performance of J.P.Morgan’s clients’ funds transfer operations management and staff in addition to recognizing their efforts in achieving best-in-class ‘Straight Through Processing’ (STP) rates.

According to J.P.Morgan, less than 1% of its total ‘funds transfer’ clients qualified for a ‘Quality Recognition Award’ in 2014 – highlighting Doha Bank’s phenomenal success in exceeding J.P.Morgan’s stringent STP performance standards.

The ‘J.P.Morgan Quality Recognition Award’ is divided into two groups, each designated by a SWIFT message type (MT) and features two categories namely ‘Quality Recognition Award’ and the second ‘Elite Quality Recognition Award’, which is given to institutions that demonstrate the highest level of performance. Doha Bank qualified for the ‘Elite Quality Recognition Award’ in both the categories with an exceptional STP rate of 99.15% for the MT103 Awards and an STP rate of 99.7% for the MT202 Awards.

“It is a matter of great pride for Doha Bank to receive the coveted ‘J.P.Morgan Quality Recognition Award’ for 2014 and more so since we have achieved the ‘Elite Quality Recognition Award’ in both the MT103 as well as the MT202 award categories. On behalf of the entire team at Doha Bank, I would like to thank J.P.Morgan for bestowing this honor upon us. As one of the leading financial services companies in the Middle East that is always striving for excellence, we are extremely delighted to have secured high STP rates in both the categories and we look forward to continue surpassing the expectations of our clients, partner banks and customers,” said Dr. R. Seetharaman, CEO of Doha Bank.