Deutsche Bank AG, Germany rewarded VTB with "STP Excellence Award for USD" for highly qualified payment execution in US Dollars in 2006. Tim Fyfe, Head of Operating Department gave the award to VTB representatives.
This is not the first time VTB got from its bank-partners the award on payment execution that proves payment document compliance with international banking standards, and their high quality. It is the third similar award received by VTB Bank from foreign clearing banks this year. VTB is the leading bank of the Russian Federation in terms of trade turnover. The Bank successfully cooperates with foreign export and import banks and insurance agencies. Advanced correspondent relations and accounts in almost all foreign currencies enable the Bank to offer competitive services to Russian companies and financial institutions.