Eastern Bank Plc (EBL), the country’s leading private financial institution, has been awarded the ‘Best Bank’ and ‘Best Bank for Corporate Responsibility’ awards at the ‘Euromoney Awards for Excellence, 2024’ held in London recently. Note that this is the fifth time EBL has been recognized as the prestigious Euromoney Best Bank. This information was informed in a press release of the bank.
In 2023, Eastern Bank’s net profit grew by 19.6 percent and asset growth was 11.5 percent, reflecting the bank’s solid foundation and effective operations. At that time, Eastern Bank’s return on equity increased significantly to 16.3 percent, which was 15.5 percent in 2022. These indicators indicate the bank’s strong financial base and efficient management.
The retail segment saw massive growth in 2023, driven by the success of EBL Home Loans and Personal Loans. During this time the bank was able to collect six thousand new home loan customers. Similarly, the bank’s SME business loan portfolio expanded by 19 percent. 292 new institutions were added to EBL payroll banking and more than 33 thousand payroll accounts were opened.
Currently the Euromoney award is considered highly respected in the world. For 30 years, Euromoney has been awarding various banks and bankers in recognition of outstanding achievements and contributions. Each year around 600 banks from more than 100 countries are considered for the Euromoney Award for Excellence.