You are on page 1of 2

Eastern Bank Limited provides commercial banking products and services to the corporate, mid-market,

and retail segment in Bangladesh and internationally. It also provides financial products and services,
including corporate deposit accounts, syndicated financing, trustee and agency services, term loan,
project finance, export-import financing, working capital and other finance, bonds and guarantees,
investment and business counseling, infrastructure finance, and cash management services, as well as
treasury, securities, and custody services. In addition, the company makes investments, placements, and
borrowing in money and capital markets; offers various credit and debit cards; and deals with foreign
exchange business, as well as provides corporate banking, Internet banking, student banking, and Hajj
remittance services, such as handling foreign demand drafts and foreign telegraphic transfers in Saudi
Arabian and local currency. As of June 30, 2010, it had 39 branches, 26 SME centers, 60 ATMs, and 4
active kiosks. Eastern Bank Limited was founded in 1992 and is headquartered in Dhaka, Bangladesh.

To become the bank of choice by transforming the way we do business and developing a truly unique
financial institution that delivers superior growth and financial performance and be the most
recognizable brand in the financial services in Bangladesh. They deliver service excellence to all our
customers, both internal and external & create an enabling environment and embrace a team based
culture where people will excel & ensure to maximize shareholder’s value. Systems, procedures and
training to maintain a cohesive and professional team in order to achieve service excellence.

EBL Launches School Banking:

Eastern Bank Ltd. (EBL) has launched “EBL Junior”, a savings account for students, with a view to include
the young population of the society under banking umbrella and help students learn the benefits of
savings from an early age.

EBL Managing Director & CEO Ali Reza Iftekhar formally launched the new product of the bank at a
simple event organized at RAJUK Uttara Model College today ( February 23, 2011). School students and
parents were present at the ceremony. Any student aged between 11 and 17 years can open this
account at all EBL branches jointly with his/her parent. This account will instill savings habit into the
students and familiarize them with modern banking facilities EBL offers. The account comes with
Internet Banking, ATM and Cheque book facilities which need to be operated by the parentsonly.

EBL Junior offers 6% interest on daily balance to be paid semi-annually. This will help the fund in the
account grow at a faster rate than the conventional savings account. A parent can use the account to
save for the future expenses of his/her child like higher education, marriage or for any purpose.

EBL will gradually cover all the leading schools in major areas of the country to promote the student
banking products and services.
EBL launches Limited Edition Visa Prepaid Cards:

Eastern Bank Ltd. has launched limited edition Visa prepaid cards on Sunday, Feb 13 to mark the
sporting extravaganza taking place in the country. Representing colour scheme of the 10 Test playing
nations – these limited edition prepaid cards are not only first of its kind in Bangladesh but the world
over. Anyone can buy these ‘ My team, my colour’ themed prepaid visa cards from the select EBL
branches in Dhaka, Chittagong, Sylhet and Bogra and use it over 10 thousand shops, restaurants and
ATMs countrywide. The card is sold at zero balance and a buyer can load any amount up to BDT 50,000
(fifty thousand) as per his or her requirement. There is no separate loading or renewal fee for the Card.

Eastern Bank Ltd. Unveils EW Visa Corporate Card in Bangladesh:

Eastern Bank Ltd. has unveiled a new Visa corporate card in Bangladesh. The EBL Visa corporate card is
designed to make companies’ payments easier. Card users will be able to handle their official and
personal expenditures while travelling abroad for business, said Shah in a press briefing at Sonargaon
Hotel. Global acceptance, ATM cash advance facility, comprehensive insurance coverage and global
customer service are the main features of the card. For individuals, no annual fees are associated with
the card. But companies will have to pay an annual membership fee for the services.

Eastern Bank Ltd Introduced Two New Loan Products, EBL Uddom and EBL Invoice Factoring:

Eastern Bank Ltd. introduced two new loan products, tailored for small and medium enterprises (SMEs).
The loan products namely EBL Uddom and EBL Invoice Factoring. Under the package, the entrepreneurs
will have to pay 16% interest and repay in a reducing balance system. Equal monthly instalment facility
is available within four years. The SME clients will be given loans against their bills under EBL Invoice
Factoring. The entrepreneurs can take loans to manage their running capital. Small and medium
enterprises often suffer from working capital crisis due to a delay in obtaining payments against their
bills — after supplying products or services. This new product will enable them to get cash support to
keep their business running smoothly. One can get loans up to BDT 50 million at a 13% rate, while the
bank will finance up to 80% of his or her total arrears to the clients. The entrepreneurs will have to
submit invoices from their buyers or debtors that include EBL’s corporate clients, multinational
corporations, banks, non-bank financial institutions, insurance companies and non-government
organisations. As security, an entrepreneur will need to deposit 50% of the loan amount as fixed deposit
with a competitive interest rate, the managing director said. EBL has 25 SME centres across the country,
and plans to launch more products for the sector.

You might also like