Eastern Bank Limited

Eastern Bank Limited (EBL) incorporated on 16 August 1992 as a public limited company with the primary objective of carrying out all kinds of banking business in and outside Bangladesh. It was formed by taking over the businesses, assets, liabilities and losses of the erstwhile Bank of Credit and Commerce International (Overseas) Limited (BCCI). Eastern Bank commenced business with four branches and an authorised capital of Tk 1,000 million divided into 10 million shares of Tk 100 each. Tk 600 million has been subscribed and paid up by three different classes of shareholders, namely KA, KHA and GA. The KA-type shares (1.2 million) are those, which are subscribed by the government of Bangladesh. The KHA-type shares (1.90 million) are subscribed by the financial institutions and GA-type shares (2.90 million) are subscribed by the depositors of the erstwhile BCCI branches. The bank is listed with the Dhaka Stock Exchange.

Table  Basic facts and economic indicators (in million Taka).

Indicators

2004

2005

2006

2007

2008

2009

Authorised Capital

1000

3300

3300

3300

3300

3100

Paid up Capital

828

828

828

1035

1387

2496

Reserved Fund

1813

3133

3146

3539

3346

5933

Deposits

15649

19396

25734

30092

41572

49190

a) Call Deposits

3701

4073

5661

8506

12380

15930

b) Term Deposits

11948

15323

20073

21586

29192

33260

Loans and Advance

15055

17757

26007

30962

39662

47669

Investment

4400

5008

5850

5896

5325

8806

Total Asset

23046

27399

35971

42579

54598

69871

Total income

2260

2957

4271

5325

7386

8650

Total Expenditure

1349

1901

2833

3454

5001

5670

Foreign Currency Trading

30707

54848

71286

83939

114791

102506

a) Export

5816

13239

24286

26673

35555

34548

b) Import

24414

29692

39347

45298

62203

54370

c) Remittance

477

1917

7653

11968

17033

13588

Total Manpower

522

536

612

690

763

875

a) Officers

458

473

549

627

701

813

b) Staff

64

63

63

63

62

62

Correspondent Banks

61

64

64

64

876

662

Total Branches (in numbers)

22

44

50

28

34

39

a) Domestic

22

22

25

28

34

39

b) Overseas

-

22

25

-

-

-

Agriculture Credit

a) Loan Disbursed

-

-

-

1754

1903

1056

b) Realised

-

-


-


63


419


67


Industrial Credit


a) Loan Disbursed


5292


6412


6525


19102


23855


22119


b) Realsied


2605


3780


1570


2283


4094


5232


Loan Outstanding by Sector


a) Agriculture and Fisheries


70


70


70


529


1079


1396


b) Industry


9299


6429


7653


8620


9811


8094


c) Trade and Commerce


4189


4363


8206


12330


15485


14981


d) Poverty Reduction


-


-


-


-


-


-

Eastern Bank operates savings & current accounts, personal loans, auto loan, debit card, pre-paid cards, Internet banking, treasury, syndication, corporate banking and SME banking. Eastern Bank is offering innovative banking services to be developed into a unique financial institution in Bangladesh.

The management of the bank is vested in a 10-member board of directors. In 2009, the bank had a total of 875 employees and 39 branches in different places in the country. [Muhammad Abdul Mazid]