The Story of EBL
Eastern Bank Limited: Passionate about Performance
Leveraging on core strengths in IT, corporate governance and service excellence, Eastern Bank Limited, better known for its acronym EBL, has emerged as one of the most valuable financial institutions in Bangladesh. The guiding principle of EBL is to meet new challenges of contemporary market place and at the same time is focused on the power of personal touch and relationship banking.
With a humble beginning in 1992, EBL moved forward with a small yet confident stride and a pledge to impacting lives positively. Today EBL stands for service excellence, product innovation and world class banking experience. The most awarded bank in the country, EBL is also the first bank to be rated by the world's top rating agency Moody's and was awarded Ba3. The rating has been reaffirmed for the past three consecutive years.
Touching lives and impacting economy is the bracing motto of EBL. In power and energy, EBL supported projects have the capacity of generating over 2100 MWs of electricity. In trade business 4.5% of country's total volume worth USD 3.26 billion is handled by EBL. In aviation financing EBL is an undisputed leader. EBL has so far financed USD 192 million in 12 aircraft including the national flag carrier Bangladesh Biman.
State-of-the-art IT solutions is one of the key sources of strength for the bank. The PCIDSS for card security certificate has been awarded to EBL first in 2016 and reaffirmed in 2017 and 2018 by world's most renowned cyber security leader NCC Group of UK.
Effective corporate governance in accordance with high international standards is of paramount importance to EBL. Our system of corporate governance provides the basis for the responsible management, transparency of processes and compliance to regulatory bodies with a focus on sustainable value creation. EBL has got recognition for last five consecutive years at the ICSB National Award for Corporate Governance Excellence award.
Our relentless effort to upgrade and update on every account of standardization is reflected in our Operations department's recent ISO 9001: 2015 certification.
In retail banking EBL is now considered as a leader in the market. The Singapore-based Asian Banker Awards for Excellence in Retail Banking found our performance as a retail bank at par with the best in banking industry in the world. We have been awarded with the Best Retail Bank in Bangladesh accolade for the last six consecutive years.
EBL from 2016 to 2018 for last three consecutive years has won Euromoney Best Bank in Bangladesh for its professionalism, prudence, and growth. EBL also won the Best Corporate and Investment Bank accolade from Asiamoney three times and the Best Bank in Bangladesh in 2017 and Best Investment Bank of Bangladesh in 2019 by FinanceAsia. Local credit rating CRISL has been upgraded from AA to AA+.
In September 2018, EBL has been adjudged as the 'Superbrand' of Bangladesh for the year 2018-2020 by the Superbrands Bangladesh for being one of the most valuable and trusted financial brands in Bangladesh. This is the second time EBL has won the award.
EBL is passionate about performance and is always hungry to better its ratios consistently and sustainably.
EBL logo: A Promise of Service Excellence
Introduced in 2003, the tri-colour mnemonic of EBL signifies vibrant colors of the sun, the sky and the earth. The logo radiates a sense of youthfulness. The concept of putting the vibrant shade of yellow on extreme right represents the sun as the source of all energy to our life and existence. The design of the tri-color flow is supported by a well-defined brand personality highlighting unique characteristics of EBL, its passionate, precise, confident and agile mind. The final element in the logo design is the brand promise, 'Simple Math' which declares the promise of service excellence and hassle-free world-class banking.
Adapting to Changes
The world of business is changing fast and in fundamental ways. Every day we experience rapidly evolving customer needs, faster leveling of competitive advantage, greater regulations, and ever-changing nature of technology and risk.
In this constantly changing business environment, we pursue efficient cost management and promote consistent productivity gains through seamless coordination between business functions to deliver sustained growth. As a good corporate citizen we believe that our paramount responsibility to society and to our stakeholders is to be there in good times and bad times.
For us making changes is a way of life.
With increasingly fierce competition in the market place, attracting, retaining and nurturing the best talent has never been more important to EBL. In an environment of rapid change, our aim is to be an attractive employer by boosting the innovative potential of our staff through 'people engagement' initiatives.
While we are embedding our values and beliefs in recruiting and onboarding processes as well as in development activities, we are also focusing on scouting latent talent in our employees through creative engagement programs.
We have a well-defined Human Resource policy of 'The right talent at the right place', which encompasses cultural transformation, diversity and inclusion to foster leadership and talent management. Our aim is to recruit and retain the best, highly talented employees to secure our future and contribute to the human capital development of the banking industry.
For us our employee is the most valuable asset of the company. Employee engagement is, therefore, at the top of all our agenda. Nurturing future leaders, scouting talents, encouraging creative pursuits among the employees has made EBL an exciting place to work with zest and passion.
For us making changes is a way of life.
Living the brand: Engagement of People
At EBL, we adhere to open communication policy: we invite, provide and respect challenging views. In 2015, we gave this culture of open communication policy a formal platform to channel free flow of new ideas. To involve every one of the organization within the process of innovative thinking, we established a capacity enhancement center for EBL called Nest. The cozy and unconventional setting of the center is designed to inspire to think out-of-the-box. Apart from regular brainstorming meetings, the center hosts lectures by luminaries of the society to talk about management, leadership, and innovation. Former Governor of central bank of Bangladesh Dr. Atiur Rahman, current Governor Fazle Kabir, Professor Abdullah Abu Sayeed, Chairman of ACI Limited M Anis Ud Dowla among others, visited the center in connection with the lecture program and shared with the senior management of EBL their stories of life how those impacted their lives and shape their careers.
We firmly believe that every human being is endowed with immense potential and to foster the potential in our employees we have initiated annual employee photography contest in 2012 and music talent hunt in 2014. Our annual calendar gets its contents from the best twelve photographs taken by our colleagues and juried by renowned photographers of the country. Music talent hunt called 'Esho Mili Surey Surey' created great excitements among our employees. A panel of independent jury picks up the best five singers for the finale through several audition rounds. At EBL, we are for pursuing lasting performance by developing, nurturing and investing in the best talent, and encouraging them to express themselves.
Corporate governance deep rooted in our culture
At EBL we give utmost importance to key parameters of corporate governance such as board system and its independence, function of board sub-committees, fair financial reporting, disclosure and compliance, and consistency of shareholders value enhancement. All our banking activities center on these key principles of good governance.
As a strong believer of sustainable growth, principles of good corporate governance are embedded in the core values of EBL. Winning ICSB National Award for Corporate Governance Excellence for three years on the trot is recognition of our continuous effort to adopt and adapt to international best practices in corporate governance. This reflects on our consistency in value creation. An organization that sticks to high standard of corporate governance is most likely to withstand calamitous events of the market. We have navigated well through the rough waters of low investment and slow growth of the past couple of years because of our flexibility to adapt to changes. We drew our strength from our culture of sound corporate governance.
We create value through product innovation
When it comes to innovating products or offering bespoke services, EBL always has its nose in front.
In a few areas our leadership is undisputed: aviation financing is one such area. With innovative and tailor-made financial solutions, EBL has curved a niche for itself in banking industry Bangladesh. Over the past one decade excellent track record, special products, and the ability to innovate and keep pace with the fast changing world have made EBL the undisputable market leader in aircraft financing in the country. From financing Boeing purchase for national flag carrier to financing private sector airlines to helicopter import, EBL has made its mark in almost all areas of aviation industry.
For merchants we have just introduced the most reliable and robust payment gateway of the country called EBL Skypay. This gateway is being backed by MasterCard Payment Gateway Services (MPGS) providing multi-channel global payment processing services and advanced fraud prevention and risk management solutions to merchants and banks. Advanced technology from MPGS enables customers to accept and process payments in over 177 currencies, from over 45 brands across e-commerce, m-commerce channels and cardholder present channels - with the security and confidence of tools tailored to meet exacting and expanding business needs.
We believe that EBL is not just about meeting customers banking needs, it is a way of life. We would like to impact our customers' lives by adding zest and spice. The Farzana Shakil Makeover Saloon at Gulshan North Branch priority center is a testimony how we care about our women customers. We want them to glam up while we take care of their banking requirements.
A Cut Above the Rest
In corporate banking, EBL is regarded as a leader in Bangladesh. With innovative and customized solutions and services, our corporate division emerged as a single point solution provider for customers including project financing, working capital, trade, supply chain, cash management solutions, payroll, syndication, merger, acquisition, and advisory service.
EBL is a pioneer among the local banks to develop Offshore Banking Unit and product offerings including Bill Discounting/Financing, bilateral and syndicated term loan, and other products for export processing zone customers and local manufacturers.
EBL has been closely working with multilaterals such as IFC, DEG, ADB, FMO, Proparco, CDC, Norfund to develop products and build up the largest OBU Asset book among the local banks.
EBL trade service department and service delivery department are regarded among the best in the market for our commitment to quality delivery and trade service operation. Our ISO 9001:2008 certifications for trade service and service delivery departments are a testimony to the international best practices that we follow at EBL.
EBL creates value through innovation. Our innovative solutions for working capital finance to importers and counter party exporters including offshore bill financing has won us IFC global award for Best Partner for Working Capital Systemic Solutions.
EBL at a Glance
Vision, Mission & Values
To become the most valuable brand in the financial services in Bangladesh creating long-lasting value for our stakeholders and above all for the community we operate in by transforming the way we do business and by delivering sustainable growth.
- We will deliver service excellence to all our customers, both internal and external.
- We will ensure to maximize shareholders' value.
- We will constantly challenge our systems, procedures and training to maintain a cohesive and professional team in order to achieve service excellence.
- We will create an enabling environment and embrace a team based culture where people will excel.
|Responsible Corporate Citizen||
- December 16, 2019: EBL has won the ‘Most Innovative Retail Bank – Bangladesh 2019’ by the International Finance Magazine
- December 15, 2019: EBL has won the prestigious ‘ICMAB Best Corporate Award 2018’ securing the first position in the Private Commercial Bank Category.
- September 29, 2019 EBL opened its first representative office in Guangzhou, China
- September 08, 2019 EBL won the Best Employer Brand Award 2019 at the 14th Employer Branding Awards at Pan Pacific Sonargaon, Dhaka. The award was given by the globally renowned Employer Branding Institute.
- March 25, 2019 EBL received Asiamoney Best Corporate and Investment Bank in Bangladesh Award for 2018. EBL has been awarded for three consecutive awards.
- June 27, 2019 EBL won the 'Best Investment Bank Bangladesh' at the FinanceAsia Country Awards 2019, held in Hong Kong.
- March 17, 2017 EBL won the prestigious Best Retail Bank in Bangladesh award for 2017 consecutively for fifth times by The Asian Banker.
- June 29, 2017 EBL was adjudged as the Best Bank in Bangladesh by FinanceAsia.
- July 13, 2017 EBL repeated the performance in 2017 by winning Euromoney Best Bank in Bangladesh award for the second consecutive year.
- September 26, 2017 EBL received Asiamoney Best Corporate and Investment Bank in Bangladesh Award for 2017.
- December 28, 2017 EBL launched country's first Artificial Intelligence (AI) - based banking chatbot titled 'EBL DIA' (EBL Digital Interactive Agent) - where anyone can interact with through chatting with an AI-based Chat Robot on social media platform.
- May 24, 2018 EBL received Asian Banker Transaction Awards-2018 in two categories: Best Cash Management Bank in Bangladesh and Best Trade Finance Bank in Bangladesh at China World Hotel in Beijing.
- June 24, 2018 EBL has moved into its permanent home at 100 Gulshan Avenue, Dhaka. This is a state-of-the-art intelligent building and also an architectural landmark of the city.
- July 18, 2018 EBL became Euromoney Best Bank in Bangladesh by repeating the performance in 2018 for the third consecutive year.
- September 1, 2018 EBL has been recognized as a 'Superbrand' of the country for the year 2018-2020 by the Superbrands Bangladesh. This is the second time EBL has been adjudged with this award.
- November 10, 2018 EBL won the gold award at the 'ICSB National Award for Corporate Governance Excellence 2017' in the 'Banking Companies' category by the Institute of Chartered Secretaries of Bangladesh (ICSB). This is EBL's third gold award in last five years.
- December 08, 2018 EBL won 2nd prize of ICMAB's 'Best Corporate Award 2017' under Traditional Private Commercial Bank Category.
- February 20, 2014 EBL has been awarded the Best Partner for Working Capital Systemic Solutions in 2013 by IFC.
- April 3, 2014 Best Retail Bank in Bangladesh 2014 awarded by the Asian Banker
- April 29, 2014 EBL wins the ICMAB Best Corporate Award 2013
- July 31, 2014 Global Brand Excellence Award by The World Brand Congress
- November 11, 2014 Best Structured SME Bank of the Year 2014
- November 30, 2014 The 14th ICAB National Awards for the Best Presented Annual Reports 2013
- December 04, 2014 ICSB National Award for Corporate Governance Excellence 2013 in the banking company category
- March 19, 2015 EBL wins the prestigious Best Retail Bank for Bangladesh2015 award.
- November 10, 2015 EBL won the 'ICSB National Award for Corporate Governance Excellence-2014' in the Banking Companies category
- March 21, 2016 EBL is the first bank in Bangladesh to be awarded Ba3 ratings by Moody's
- October 2016 EBL achieved the global standard in payment-card security certification 'Payment Card Industry Data Security Standard (PCI DSS) from world's top cyber security leader NCC Group based in UK
- November 28, 2016 EBL wins 3rd prize best financial reporting at The Institute of Chartered Accountants of Bangladesh or ICAB awards
- December 24, 2016 Eastern Bank Ltd (EBL) won the second prize at the 3rd ICSB National Award for Corporate Governance Excellence 2015.
- March 1, 2010 Acquired 60% shares of a brokerage house 'LRK Securities Limited' renamed afterwards as 'EBL Securities Limited' and was acquired fully in 2012.
- April 4, 2010 Implemented 'Universal Banking System (UBS)', world's one of the renowned core banking solutions as a first bank in Bangladesh.
- January 09, 2011 Incorporated 'EBL Asset Management Limited', a fully owned subsidiary of the Bank to do asset management i.e. managing mutual funds.
- May 11, 2011 Centralized operations of EBL got Quality Management Systems Certificate as per ISO 9001: 2008
- June 25, 2011 Adjudged the Best Financial Institution 2010 at the DHL Daily Star Bangladesh Business Awards.
- November 25, 2011 Conferred Global awards for Brand Excellence in the category of 'Best Banking and Financial Services' by The Global Brand Congress.
- November 28, 2011 Incorporated with HK authority 'EBL Finance (HK) Limited', the fully owned first foreign subsidiary of EBL.
- July 19, 2012 Crowned Asia's Best Employer Brand Awards 2012 in the category of 'Best HR Strategy in line with business' by World HR Congress & Employer Branding Institute.
- July 25, 2012 EBL CEO awarded 'CEO of The Year' by World HR Congress & World Brand Congress Hosted by Asian Confederation of Businesses.
- October 1, 2012 Annual Report 2011 Awarded 2nd prize as 'Best Presented Annual Report Awards' by ICAB.
- October 5, 2012 IFC awarded EBL the Best GTFP Issuing Bank in South Asia in 2012
- March 22, 2013 EBL wins the Best Retail Bank in Bangladesh 2013 awarded by the Asian Banker.
- March 5, 2006 Centralization of liability product processing functions at Service Delivery.
- June 6, 2006 Launched SME Banking Division.
- November 09, 2006 Partnered with ADB under Trade Finance Facilitation Program (TFFP) to receive guarantee and revolving credit facility.
- July 1, 2007 Launched Own Managed Cards Software and Production System.
- May 25, 2008 First 'Right Issue' declared @ 2:1 at par.
- February 13, 2009 Commencement of Investment Banking Operations.
- April 19, 2009 Registration of EBL 1st Mutual Fund with Securities and Exchange Commission.
- April 26, 2009 Launched Priority Banking for premium customer segment.
- April 2009 Awarded 'Superbrand' by Superbrands Inc. for the period 2009-2011.
- November 2009 EBL was awarded 3rd position for Annual Report 2008 in the 'Best Published Accounts' by ICAB and conferred a 'Certificate of Merit' award for 'Best
- Presented Accounts and Corporate Governance Disclosures Awards 2008' by SAFA.
- December 30, 2009 Established 'EBL Investments Limited' a fully owned subsidiary to do merchant banking (MB) operations (MB License received in January 2013).
- January 19, 2002 Centralization of Trade Services.
- July 17, 2003 Launched online banking services across all the branches.
- January 25, 2004 Obtained permission from Bangladesh Bank for Offshore Banking Unit, Bangladesh.
- May 19, 2004 Commenced of operations of Off shore Banking Unit, Bangladesh.
- September 11, 2004 Listed with Chittagong Stock Exchange Ltd.
- June 27, 2005 Authorized share capital increased to BDT 3.3 billion.
- November 30, 2005 Partnered with IFC under Global Trade Finance Program (GTFP) for better handling complex trade transactions.