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EBL wins 'Best Domestic Bank' award

July 21, 2022 00:00:00

Eastern Bank Limited (EBL), a leading private sector commercial bank of the country, has been awarded as the Bangladesh's Best Domestic Bank 2022 by Asiamoney, a renowned global financial publication, says a press release.

The bank received this prestigious recognition for two years in a row.

"We are really honoured and inspired by the award from Asiamoney for the second consecutive year. We consider it a recognition of our continuous team efforts in achieving the banking excellence and EBL's resilience in any adverse situation," said Ali Reza Iftekhar, Managing Director and CEO of EBL.

"Very recently, Euromoney has recognised EBL as the Best Bank in Bangladesh as well. However, these recognitions in no way can make us complacent in this dynamic and competitive world. EBL is constantly investing in technology and innovation to provide its customers with the most advanced banking products and services."

During the challenging period of Covid-19 pandemic, Eastern Bank made few strategic moves to rein in operating costs, leverage strong growth in traffic on its digital platforms and social media channels, and offer new and innovative services through the bank's mobile apps.

In 2021, EBL's tier-1 capital rose 11.4 per cent year on year to Tk 26.1 billion and overall assets jumped 15.4 per cent to Tk 388.8 billion. Net profits rose 13.5 per cent in 2021 and return on equity was 15.5 per cent, up from 15 per cent in 2020. In 2021, the bank declared a 35 per cent dividend to shareholders, the highest in Bangladesh's banking industry.

EBL Skybanking app observed a staggering 400 per cent surge in transactions during 2021.

The platform is playing a crucial role in improving customer experience and relieving pressure on the branch network.

Skybanking gives users hassle-free, secure and economical banking-from-home capabilities.

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