ABL and Sector News

Fransabank Awarded by JP Morgan Chase Bank

October 10 2018
Fransabank received JP Morgan Chase Bank’s “2018 Elite Quality Recognition Award for U.S. Dollar Clearing MT103 at a rate of 99.52%”, which indicates the high quality of payment transactions processed by Fransabank.

JP Morgan, a major US correspondent of Fransabank, completed its annual service review and singled out Fransabank for the exceptionally high quality of its payment transactions, attaining one of the highest percentage among banks.

The “2018 Elite Quality Recognition Award for U.S. Dollar Clearing " was presented to Fransabank’s Chairmen Messrs. Adnan and Adel Kassar by Mr. Jossan Maalouf, GM of JP Morgan Chase Bank Levant Region, during a ceremony, held at Fransabank Headquarters in Beirut on Wednesday 3rd of October, 2018, in the presence of Senior Executives from both institutions.

Jossan Maalouf congratulated Fransabank for this outstanding achievement emphasizing that less than 2% of JPMorgan clients globally qualify for a Quality Recognition Award. This award is a clear reflection of Fransabank ultimate level of performance and their commitment to international banking rigorous standards, as Maalouf said. Finally, Jossan Maalouf stressed on the excellent relationship between JPMorgan and Fransabank being one of JPMorgan historical correspondent banking relationships in the MENA region.

Mr. Adnan Kassar, Chairman of Fransabank Group, pointed out that “Fransabank Payment Services team and all parties involved are honored to receive once more such a recognition,” adding that “it’s a quality award which embodies Fransabank ongoing efforts to deliver superior service quality while maintaining high standards of transaction execution precision and accuracy.”

Mr. Adel Kassar, Deputy Chairman of Fransabank Group, indicated that “It gives us great pleasure to win this award which is a testimony to the dedication shown by Fransabank staff in their relentless quest for excellence.”

It is noteworthy that JP Morgan Chase Bank offers since 1997 Quality Recognition Awards in the operations of banking institutions which achieve rates of «best-in-class», where the award is considered to be a global standard for the efficient operations of the international financial transactions.
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