ABBANK Wins STP Award 2011 from Wells Fargo
On February 23, 2011, An Binh Commercial Joint Stock Bank (ABBANK) was presented the Straight - Through - Processing Award (STP Award) 2011 by the US-based bank Wells Fargo. This is the fourth time in a row this lender has received the honour from Wells Fargo.
STP Award goes to worldwide banks with more than 90 percent of automated international STP payments.
International payment operation is considered one of ABBANK’s strengths. This contributes over 10 percent to the bank’s revenues, mainly from L/C opening, money transfer and guarantee services.
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