Eleven outstanding banks of standard international payment honoured Citi, a leading foreign bank in Vietnam, held an award ceremony on December 11 to present the Straight Through Processing Award 2014 (STP Award) to 11 banks operating in Vietnam in recognition of their excellence in international electronic payment services. This is the 12th consecutive year Citi has acknowledged and honoured banks in Vietnam for their efforts and success in international payment activities, with an average STP rate of over 95% in 2014. The award was designed on the basis of the analysis on the bank’s ability to perform payment transactions smoothly, professionally and thoroughly. The 11 banks were: Vietcombank, BIDV, Agribank, Vietinbank, Techcombank, Military Bank, VPBank, ACB, Sacombank, Eximbank and Ho Chi Minh City branch of Taipei Fubon Bank. On the occasion, Citi held a seminar themed Basel III and its impacts on the operations of the banking sector, international trends and renewals on payment products and commerce, attracting the participation of more than 20 domestic banks and senior experts from Citi Vietnam and Citi Asia-Pacific. PVN extracts more crude despite falling prices Vietnam National Oil and Gas Group (PVN) has extracted more crude oil than the target although oil prices have kept falling on global markets in the past months. A source from PVN said the group has realized the target to pump 16.21 million tons of crude oil from domestic and foreign fields as assigned by the Government and 9.5 billion cubic meters of gas as of December 9….