Eastern Bank Limited: Bangladesh’s Best Domestic Bank 2023

Ali Reza Iftekhar 
Managing Director & CEO
Eastern Bank Limited

At EBL, we prioritize international best practices in corporate governance. I believe in investing in people today for a better tomorrow. Placing the right individuals in the right places involves hiring candidates, and ensuring that they have a passion for job. By fostering a work environment that inspires dedication, commitment, and passion, employees are motivated to perform at their best. My drive has always been to foster a culture of innovation and creativity at EBL. I have encouraged employees to think outside the box, take calculated risks, and experiment with new ideas and approaches. I have implemented processes and structures to support innovation, and I took risk on my people.

Top 3 Initiatives

• Introduced Project Rupantor, the fastest Core Banking System (CBS) migration project.
• Implemented automation for at least 14 information technology processes.
• Pioneered the opening of a Japan business desk, positioning itself as a one-stop shop for Japanese investors and companies. In 2023, opened China and India Business desk.

Top 3 Achievements

• Net profits rose by 9.75%, year on year, in 2022 as assets jumped by 17.28%, and Tier 1 capital increased by 14.56%.
• Successfully raised Tk 1,224 million ($11.4 million) through issuing Zero Coupon Bonds to support disenfranchised women in rural Bangladesh.
• EBL Skypay witnessed a remarkable 29% surge in transactional volumes, securing 81% market share of all e-payments by the end of 2022.