Eastern Bank Ltd ( EBL), receives prestigious Bangladesh's best bank 2021 award by the Asiamoney, a global financial publication.
The award was announced on 26 March. EBL was awarded for its outstanding performance in the domestic sector during the last 12 months, reads a press release.
Asiamoney lauded EBL's big effort to broaden its services for retail investors in response to the coronavirus pandemic. In 2020, despite pandemic, EBL was able to increase its tier one capital by 13.26% to Tk23.47 billion, and boost net profits 2.37% to Tk4.1 billion. It was also able to reduce its non-performing loan ratio to 2.66%, from 3.35% in 2019.
The bank added some new features in its digital banking platform during the Covid-19 crisis including its EBL Insta Account, which can be opened remotely using e-KYC. It is also continuously improving its app EBL Skybanking, which it plans to turn into its omnichannel banking platform, further reducing pressure on its branch network.
EBL also won Asiamoney as the Best Corporate and Investment Bank in Bangladesh for four consecutive years from 2017 – 2020.