Doha Bank Q S C : received Deutsche Bank Award for Excellence in EUR Straight Through Processing
November 06, 2014 at 12:38 am EST
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Doha Bank received Deutsche Bank Award for Excellence in EUR Straight Through Processing
Doha Bank was presented with the EUR Straight Through Processing (STP) Excellence Award for 2013 by Deutsche Bank representative Mr. Sumit K. Roy, Managing Director, Head MEA and Africa, Cash Management for Financial Institutions, Global Transaction Banking. The award is in recognition of Doha Bank's high quality of outbound Euro-denominated payment messages without any manual intervention throughout the entire transaction cycle to the payment destination.
The presentation ceremony was held at Doha Bank's West Bay headquarters in Doha in the presence of senior members of the Bank's management team including Mr. Dag Reichel, Doha Bank Head of Wholesale Banking, who accepted the award on behalf of the Bank.
On behalf of Doha Bank Group CEO, Dr. R. Seetharaman, Mr. Reichel thanked Deutsche Bank for its commitment to promoting excellence in the field, saying: "We are honored to receive this award in recognition of achieving the highest Straight Through Processing rates. We commend the efforts of Deutsche Bank for promoting these very high standards and for recognizing excellence among the leading banks in each country through this award. Doha Bank strives to achieve operational excellence in all its activities and is proud to offer a combination of local market expertise, global presence and advanced technology to support our clients' processing requirements. Doha Bank also believes in fostering innovation across all banking functions, while ensuring best in class services for all clients."
Mr. Reichel, added, "Doha Bank is one of the leading providers of Trade Finance services with operations in the local and regional markets with a history of serving clients for over 25 years in the region. STP automates the end-to-end processing of capital markets and payment transactions, significantly aiding the process by automating it from the point of the first deal to final settlement, eliminating human error and discrepancies across the transaction cycle, reducing operating costs, ensuring accuracy and shortened transaction periods. This benefits both the Bank's clients and international trading partners."
Doha Bank manages the second largest corporate and commercial lending portfolio in Qatar and has an active practice in Kuwait, Abu Dhabi and Dubai managed by a team of specialist bankers. These multi-specialty services are built on a highly personalized approach to service delivery for clients of all categories.
Doha Bank QPSC is a Qatar-based financial institution engaged in the banking sector. The Bank is organized into the following business segments: Corporate Banking, which provides a range of products and services to business and corporate customers, including funded and non funded credit, facilitates deposits to corporate customers, as well as undertakes funding and centralized risk management activities through borrowings, issue of debt securities, use of derivatives for risk management purposes and investing in liquid assets, such as short term placements and corporate and government debt securities; Retail Banking, which provides a range of products and services to individuals, including loans, credit cards, deposits and other transactions with retail customers, as well as Insurance Activities.
DOHA BANK Q.P.S.C. 
