Burgan Bank, a leading commercial bank by assets in Kuwait, said it has received the ‘Quality Recognition Award’ for the year 2014 from JP Morgan.

The award acknowledged the bank’s consistent, high quality performance and standards in the complete range of US dollar funds transfer operations that have been maintained by the management and staff during the year, said a statement from the bank.

JP Morgan recognised Burgan Bank for achieving 99.7 per cent straight-through processing (STP) in the MT103 category and 99.98 per cent in the MT202 category, hence entitling the bank to the ‘Elite Quality Recognition Award’ in both categories, it added.

Burgan Bank was among the few banks across the Middle East and North Africa (Mena) region to receive the Elite level of the award for both its treasury and commercial activities, the statement said.

Adrian Gostuski, chief operating officer of the bank, said: “This award is a testament to the bank’s ability to achieve and perpetuate excellence in its financial services across the Mena region.”

“On behalf of the entire team at Burgan Bank, I would like to thank JP Morgan for recognising our exceptional financial services, and to thank our employees in maintaining high quality performance and standards for funds transfer operations,” he added. – TradeArabia News Services