EBL believes in relationship building and focuses on sustainable and long term growth – both for the bank, its clients and the community it operates in. Despite the constant threat of the global economic recession and its subsequent effect on the Bangladesh market in 2010, EBL's Profit After Tax grew by 66.70 % last year. The Non Performing Loan Ratio dropped to 1.99% from 2.46%. The same year, Earning per Share (EPS) had increased by around 70% and Cost to Income ratio is 32.10% which is one of the lowest in the industry. And in 2010 the bank's Credit Rating increased to AA from AA-, which was A+ in the year before.
EBL knows its target customers and as such offers new products and services to cater to their contemporary taste and need. In the past couple of years the Bank came up with several exciting products and service propositions: Some of them are a first in Bangladesh. Priority Banking, Travel related products, life insurance covered DPS, Platinum Credit Card, SME Debit Card to name a few. EBL is one of the first banks in Bangladesh to launch Mobile-based remittance service marking a new era of banking services among the unbanked population of the country. EBL SME Banking holds a strong foothold in the market and offers several specialized financial solutions for the entrepreneurs. EBL introduced Invoice Factoring for the first time in Bangladesh and has dedicated Women Entrepreneur Cell to cater to the banking needs of the particular segment. On the corporate banking front, EBL is a market leader in Syndication deals which demonstrates the bank's financial capacity and strength. In the last five years EBL has closed syndication deals worth more than Tk. 1500 crore. EBL received its biggest recognition when country's national flag carrier Biman Bangladesh Airlines mandated pre-delivery purchase deal to Eastern Bank Ltd. for two Boeing 777-300ER. In the Bangladesh banking history EBL is the first local bank to handle such a mega project. In 2009 EBL launched Investment Banking wing, which contributed significantly in the EBL revenue stream in the very first year of its operation.
The Institute of Chartered Accountants of Bangladesh (ICAB) recognized Annual Report of Eastern Bank Limited (EBL) as one of the best published reports in 2009. EBL was awarded the 2nd prize at 10th ICAB National Awards for the Best Published Accounts and Reports. EBL is also a recipient of 'Certificate of Merit' in the Best Presented Accounts Award 2009 by South Asian Federation of Accountants (SAFA).
EBL has also been awarded by IFC as the Most Active GTFP Issuing Bank in South Asia 2009-2010 and the Most Active Issuing Bank in Agribusiness Sector in South Asia 2010-2011.
Last year our Annual Report got the 3rd prize at the ICAB National Awards in the same category and was conferred 'Certificate of Merit' by SAFA.
EBL's sincere efforts are well-appreciated by all and have gotten recognitions from local and international institutions like Institute of Chartered Accountants in Bangladesh, Superbrands Inc., South Asian Federation of Accountants. In EBL's journey to excellence, a great achievement has been added. Centralised Trade Operations of EBL has achieved Quality Management Systems Certificate as per ISO 9001:2008 standard. EBL is the first Bangladeshi Bank to achieve this recognition for its commitment to quality delivery. The crowning glory of EBL's commitment to perform with passion has been winning the Best Financial Institution 2010, the most coveted award of the country at the DHL-Daily Star Bangladesh Business Award 2010. As we are striving to achieve international standards in all our products and services, international recognition is natural to follow. The Global Brand Congress just held in Mumbai conferred EBL Global Awards for Brand Excellence in the ‘Best Banking and Financial Services' category.
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