Eastern Bank PLC. ( bn, ইস্টার্ন ব্যাংক পিএলসি) is a private

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

headquartered in

Dhaka Dhaka ( or ; bn, ঢাকা, Ḍhākā, ), formerly known as Dacca, is the capital and largest city of Bangladesh, as well as the world's largest Bengali-speaking city. It is the eighth largest and sixth most densely populated city ...

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

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

under the Bank Companies Act of 1991. Its share are listed in the Dhaka Stock Exchange and the Chittagong Stock Exchange. 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. Banking servi ...

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

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

, equity brokerage and

security Security is protection from, or resilience against, potential harm (or other unwanted coercive change) caused by others, by restraining the freedom of others to act. Beneficiaries (technically referents) of security may be of persons and social ...

. It has 85 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 (, or , ; also known as Calcutta , List of renamed places in India#West Bengal, the official name until 2001) is the Capital city, capital of the Indian States and union territories of India, state of West Bengal, on the eastern ba ...

, India. This branch in

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

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

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

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

Myanmar Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John C. Wells, Joh ...

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

Guangzhou Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kon ...

on September 29, 2019.

History

Eastern Bank PLC. began operations on August 16, 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 national governing body for cricket in India. Its headquarters are situated at Cricket centre, Wankhede Stadium in Mumbai. The BCCI is the richest governing body of cricket in the worl ...

), 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 ( bn, ঢাকা সেনানিবাস) is a cantonment located in the northern part of Dhaka, Bangladesh. The headquarters of the Bangladesh Army, and Bangladesh Air Force, Air Force are situated within the cantonment w ...

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. 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 ( bn, বাংলালিংক; previously Orascom Telecom Bangladesh Ltd.) is a Bangladeshi telecommunications company headquartered in Dhaka. It's the third-largest mobile networ ...

. In January 2023, Eastern Bank's branch in

Halishahar Halishahar Housing Estate ( bn, হালিশহর) is a 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 ...

, 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 * 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