Eastern Bank PLC. () is a private

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

headquartered in

Dhaka Dhaka ( or ; , ), List of renamed places in Bangladesh, formerly known as Dacca, is the capital city, capital and list of cities and towns in Bangladesh, largest city of Bangladesh. It is one of the list of largest cities, largest and list o ...

, Bangladesh. It was established on 8 August 1992, as a public limited company with

limited liability Limited liability is a legal status in which a person's financial Legal liability, liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture. If a company that provides limi ...

under the Bank Companies Act of 1991. Its share are listed in the

Dhaka Stock Exchange The Dhaka Stock Exchange (DSE) ( ''Dhaka stôk ekschenj''), located in Nikunja, Dhaka, is one of the two stock exchanges of Bangladesh, the other being the Chittagong Stock Exchange. In January 2023, DSE and Nasdaq announced their partnership ...

and the

Chittagong Stock Exchange The Chittagong Stock Exchange () is a stock exchange based in the port city Chittagong, Bangladesh. It is one of the twin financial hubs of the country, alongside the Dhaka Stock Exchange. Established in 1995, the exchange is located in the A ...

. The bank provides products and services in

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

corporate finance Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analy ...

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

, equity brokerage and

security Security is protection from, or resilience against, potential harm (or other unwanted coercion). Beneficiaries (technically referents) of security may be persons and social groups, objects and institutions, ecosystems, or any other entity or ...

. It has 87 branches and 214 ATMs in Bangladesh and employs around 3000 employees. Eastern Bank PLC. is going to open its first overseas full-fledged branch in

Calcutta Kolkata, also known as Calcutta (List of renamed places in India#West Bengal, its official name until 2001), is the capital and largest city of the Indian States and union territories of India, state of West Bengal. It lies on the eastern ba ...

, India. This branch in

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

will be its first foreign branch outside of Bangladesh. Presently, EBL has a subsidiary in

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

named EBL Finance (HK) Limited and a representative office in

Myanmar Myanmar, officially the Republic of the Union of Myanmar; and also referred to as Burma (the official English name until 1989), is a country in northwest Southeast Asia. It is the largest country by area in Mainland Southeast Asia and has ...

. EBL opened its third representative office on the Chinese mainland in

Guangzhou Guangzhou, Chinese postal romanization, previously romanized as Canton or Kwangchow, is the Capital city, capital and largest city of Guangdong Provinces of China, province in South China, southern China. Located on the Pearl River about nor ...

on September 29, 2019.

History

Eastern Bank PLC. began operations on 16 August 1992. Prior to 1992, EBL operated as Bank of Credit and Commerce International (

BCCI The Board of Control for Cricket in India (BCCI) is the principal national governing body of the sport of cricket in India. Its headquarters are situated at the Cricket Centre in Wankhede Stadium, Mumbai. BCCI is the wealthiest governing body ...

), which transformed into Eastern Bank PLC.. In February 2017, Eastern Bank PLC. announced compensations for clients whose card information was stolen from the bank's ATM after Bangladesh Bank ordered it compensate the clients. City Bank and

United Commercial Bank United Commercial Bank (Chinese: 聯合銀行) was an overseas Chinese bank in the United States, based in San Francisco, California. It was a subsidiary of UCBH Holdings. Founded in 1974 as United Federal Savings and Loan Association, it cha ...

were also targeted in the hacks. A security guard at an ATM of Eastern Bank PLC. in

Dhaka Cantonment Dhaka Cantonment () is a cantonment located in the northern part of Dhaka, Bangladesh. The headquarters of the Bangladesh Army and Air Force are situated within the cantonment. The cantonment is located on the north-east end of Dhaka. History ...

was killed on duty in May 2018. A. M. Shaukat Ali, Director of Eastern Bank and chairman of Chairman of Engineering Consultants and Associates Limited, died in August 2020. Eastern Bank increased its invest in government securities by 63 per cent. In January 2022, Eastern Bank announced plans to issue five billion BDT worth of bonds. Ali Reza Iftekhar was reappointed managing director of Eastern Bank in June. Bangladesh Bank fined Eastern Bank PLC. 500 thousand BDT for violating single borrower exposure limit with its loans to EBL Securities Limited and EBL Finance (Hong Kong) Limited. Eastern Bank PLC. announced plans to raise 1.2 billion BDT for

Thengamara Mohila Sabuj Sangha Thengamara Mohila Sabuj Sangha (), TMSS, is a Bangladeshi non-profit that works for the advancement of women in Northern Bangladesh. It is the third largest non-governmental organisation (NGO) in Bangladesh. Gulnahar Parveen is chairwoman of the ...

. It received a Sustainability Rating award for the year 2021 from Bangladesh Bank. It helped arrange a 1.2 billion syndicated loan for

Banglalink Banglalink Digital Communications Ltd., d.b.a. Banglalink (; formerly ''Sheba Telecom (Pvt.) Ltd.'') is a Dutch-owned telecommunications company headquartered in Gulshan-1, Dhaka. It is the third-largest mobile network operator in Banglades ...

. In January 2023, Eastern Bank's branch in

Halishahar Halishahar () is a Administrative divisions of Bangladesh, thana of Chattogram District in Chattogram Division, Bangladesh. Halishahar Housing Estate is a large residential area in Chattogram. Geography Total area of this thana is 9.64 km2 ...

, Chittagong caught fire which was bought under control by the Bangladesh Fire Service and Civil Defense.

Subsidiaries

* EBL Securities Limited (stock dealing & brokerage) * EBL Investments Limited (merchant banking operations) * EBL Asset Management Limited (asset management) * EBL Finance (HK) Limited (first foreign subsidiary doing trade finance and off-shore banking business in Hong Kong) * Yangon Representative Office, Myanmar * Guangzhou Representative Office, Mainland China

Board of directors

* Md. Showkat Ali Chowdhury (Chairman) * M. Ghaziul Haque * Mir Nasir Hossain * Salina Ali * Anis Ahmed * Mufakkharul Islam Khasru * Ormaan Rafay Nizam (not at present) * Gazi Md. Shawkat Hossain * K. J. S. Banu * Zara Namreen *

Toufic Ahmad Choudhury Toufic Ahmad Choudhury is a Bangladesh economist and banker. He is the former director general of the Bangladesh Institute of Bank Management. He is the director general of the Bangladesh Academy for Securities Markets, a wing of the Bangladesh S ...

* Ashiq Imran * Ruslan Nasir * K M Tanjib-ul Alam * Ali Reza Iftekhar (Chief Executive Officer and Managing Director)

Shareholding pattern

As of September 30, 2019:

References

External links