Eastern Bank Limited (EBL) won the "ICMAB Best Corporate Award 2018" securing the first position in the Private Commercial Bank Category.
Managing Director and CEO of EBL Ali Reza Iftekhar received the award from Planning Minister M A Mannan at a ceremony held at the InterContinental Dhaka on Sunday (December 15).
The award ceremony, organised by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) was attended by Rokia Afzal Rahman, former Adviser of the Caretaker Govt of Bangladesh and Vice President of ICC Bangladesh; Dr M. Khairul Hossain, Chairman of Bangladesh Securities and Exchange Commission; Dr Md. Jafar Uddin, Secretary, Ministry of Commerce; C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting and Hassan O. Rashid, Additional Managing Director of EBL among others.
Receiving the trophy Ali Reza Iftekhar EBL said, "We are overwhelmed to receive this prestigious award. An award is recognition of competitiveness, acknowledgement of efficiency, and acceptance of our performance."
"At EBL we believe in responsible and ethical banking. We pursue best international corporate Governance practices and our corporate culture promote sustainable performance, client centricity, innovation and partnership."
He informed that EBL achieved 28% profit after tax growth in 2018. During that period the NPL was 2.35%, lowest in the country's banking industry. EBL paid 20% cash dividend and 10% stock dividend to its shareholders in 2018.
EBL won the award for three consecutive years and this year secured the first position.