Question 1

What is Eastern Bank PLC?

Accepted Answer

Eastern Bank PLC is a leading private commercial bank headquartered in Dhaka, Bangladesh. Established as a public limited company with shares listed on the Dhaka Stock Exchange and Chittagong Stock Exchange, the bank provides comprehensive financial services including retail banking, corporate finance, asset management, equity brokerage, and securities. With approximately 3,000 employees, 83 branches, and 255 ATMs across Bangladesh, Eastern Bank has established itself as a symbol of stability in the country's banking sector. The bank holds AAA credit ratings and has grown into a company worth approximately BDT 460 billion.

Question 2

When was Eastern Bank PLC founded?

Accepted Answer

Eastern Bank PLC was established on August 8, 1992, as a public limited company under the Bank Companies Act of 1991, and began operations on August 16, 1992. The bank's origins trace back to the transformation of the Bank of Credit and Commerce International (BCCI) operations in Bangladesh, which were restructured into Eastern Bank PLC. In September 2023, Eastern Bank Limited was officially renamed Eastern Bank PLC. Over three decades of operations, the bank has evolved from focusing primarily on retail banking for the middle class to becoming a comprehensive financial institution serving individuals, SMEs, and large corporations.

Question 3

Where is Eastern Bank PLC headquartered?

Accepted Answer

Eastern Bank PLC is headquartered at 100 Gulshan Avenue, Gulshan, Dhaka 1212, Bangladesh. The bank moved into this permanent headquarters in June 2018, occupying a state-of-the-art intelligent building that has become an architectural landmark of Dhaka. The headquarters features modern amenities including water treatment systems and solar panels, reflecting the bank's commitment to environmental sustainability.

Question 4

Where does Eastern Bank PLC operate?

Accepted Answer

Eastern Bank PLC operates 83 branches and 23 sub-branches throughout Bangladesh, supported by 255 ATMs and CRMs, 63 agent banking outlets, and 16 priority centers. The bank maintains a significant domestic presence across major cities and regions. Internationally, Eastern Bank has established a regional footprint with operations in Hong Kong through its wholly-owned subsidiary EBL Finance (HK) Limited, which has operated since 2013. The bank maintains representative offices in Yangon, Myanmar and Guangzhou, China (opened September 2019). Eastern Bank plans to open its first full-fledged overseas branch in Calcutta, India, which will be its first foreign branch outside Bangladesh.

Question 5

What services does Eastern Bank PLC offer?

Accepted Answer

Eastern Bank PLC offers comprehensive financial services across multiple segments. Retail banking services include savings and current accounts, credit cards, personal loans, and various deposit products tailored to different customer segments. In September 2024, the bank launched Islamic Banking services, expanding its product portfolio.

Corporate and investment banking services include trade finance (handling over 5% of Bangladesh's total trade volume), working capital finance, project finance, and cash management solutions. The bank is a market leader in structured finance and syndication, having successfully closed 78 deals worth BDT 110 billion and USD 802 million. Key sector financing includes ready-made garments (RMG), power, aviation, infrastructure, food, pharmaceuticals, steel, and telecommunications, with over 60% of lending in manufacturing.

SME banking provides specialized products including collateral-free financing, with over BDT 60.36 billion financed in the past three years. Agricultural financing through NGO linkages has disbursed BDT 16.12 billion in three years.

Digital banking capabilities include smartphone app-based banking with 327,337 accounts, internet banking with 75,028 accounts, and mobile banking services. The bank operates 7,265 POS terminals and maintains 539 foreign correspondent relationships. In September 2023, EBL launched WEAREBL, Bangladesh's first wearable payment devices in collaboration with Mastercard and Visa.

Subsidiary services include EBL Securities Limited (stock brokerage), EBL Investments Limited (merchant banking), EBL Asset Management Limited (mutual fund management), and EBL Finance (HK) Limited (trade finance and offshore banking). The bank also operates an Offshore Banking Unit established in 2004.

Question 6

What makes Eastern Bank PLC unique?

Accepted Answer

Eastern Bank PLC distinguishes itself through multiple groundbreaking achievements and innovations. The bank was awarded Bank of the Year 2020 for Bangladesh by The Banker and won the Euromoney Best Bank award in 2024 for both "Best Bank" and "Best Bank for Corporate Responsibility." In 2022 and consecutive years, the bank won Best Domestic Bank at the Asiamoney Best Bank Awards.

Eastern Bank was the first bank in Bangladesh to implement Universal Banking System (UBS) in 2010, achieving the fastest CBS migration in Bangladesh banking history with Project Rupantor in 2022. The bank pioneered several financial products including Bangladesh's first local currency interest rate swap deal (August 2023), the nation's first dematerialized corporate bond for rural women empowerment, and financing for Bangladesh's first human vaccine.

The bank received Ba3 ratings from Moody's in 2016, making it the first bank in Bangladesh to achieve this distinction. Eastern Bank holds the number one ranking in Market Leaders and Best Services among Asian Banks in Bangladesh. The bank launched EBL Women Payroll Suite in October 2024, a first-of-its-kind product exclusively for women professionals in Bangladesh. In November 2024, the bank received four accolades at Mastercard Excellence Awards 2024 for innovation, credit business, POS acquiring, and online acquiring.

Question 7

What type of financial institution is Eastern Bank PLC?

Accepted Answer

Eastern Bank PLC is a private commercial bank operating as a public limited company listed on both the Dhaka Stock Exchange and Chittagong Stock Exchange. Regulated by Bangladesh Bank, the central bank of Bangladesh, Eastern Bank operates as a universal bank providing retail, corporate, investment, and Islamic banking services. The bank's shareholding structure includes 44.20% institutional investors, 31.60% sponsors/directors, 23.80% public shareholders, and 0.40% foreign investors. With AAA credit ratings and comprehensive banking capabilities, Eastern Bank functions as a full-service financial institution with aspirations to become a regional bank serving the South Asian market.

Eastern Bank PLC

in Bangladesh 🇧🇩

Crypto-Friendliness

All done!

About Eastern Bank PLC in Bangladesh