Eastern Bank Limited (EBL), the Bangladesh-based private commercial bank, has revealed a promising performance in 2021-2022, for which, its CEO, Mr Ali Reza Iftekhar won the ‘Best Banking CEO of the Year, Bangladesh 2022’ from World Business Outlook. An avid promoter of sustainable development of Bangladesh’s economy, Ali Reza Iftekhar has been in the banking sector for the past 37 years.
Ali Reza Iftekhar, having been part of several foreign and private banks, joined EBL in 2004 as deputy managing director and was promoted as additional managing director in 2006. He was appointed the Managing Director and the CEO in 2007 and has retained that position ever since. Previously, Ali Reza Iftekhar held essential positions in Banque Indosuez, Standard Chartered Bank and AB Bank. He even served as the Association of Bankers Bangladesh for two terms 2014-15 and 2020-21.
Eastern Bank Limited is currently committed to strengthening its digital capabilities and customer-centricity. In times of this low-interest environment, EBL is seeking to improve its operational efficiencies to build a leaner, more responsive organisation while increasing contributions from fees-based income and other reliable sources.
During the pandemic, EBL ensured the utmost comfort and peace of mind to its customers by offering debt moratoriums, customised repayment plans and access to concessionary funding. The bank scanned through the feedback that poured in through social media and other digital channels.
In its efforts to promote a sustainable mode of operations and to deliver sustained performance in these unpredictable business scenarios, EBL, under the leadership of Ali Reza Iftekhar, has incorporated several measures in its working policies. Some of them include financing business that invests in renewable energy and implementing several energy-saving, cost-efficient actions in the working conditions at EBL.
Ali Reza Iftekhar strongly believes in his HR slogan, ‘We do not offer jobs, we shape careers.’ Skill development, right work-life balance, empathy for colleagues and customers are some of the core values that define EBL culture for caring for people. EBL has designed several employee engagement programs as well to inspire its people to pursue their latent talents in photography, singing, and cooking.
Ujal Nair, Editor for World Business Outlook said, “It is our honour to adorn Mr.Ali Reza Iftekhar with the title. He is popularly considered as the longest-serving Managing Director of the banking industry in Bangladesh. He is credited for introducing international best practices and ethical banking at EBL. He transformed EBL into a leading financial brand in Bangladesh.”
Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank Limited, received the honours from World Business Outlook and said, “EBL’s key regulatory ratios in 2021 such as AD Ratio (79.69% ≤ 87%), CRAR (14.08% ≥12.5%), LCR (144.97% ≥100%), NSFR (104.40% >100%), leverage ratio (5.69% ≥ 3%), MCO (14.51% ≤ 16.5%) and capital market exposure (22.20% ≤ 25%) clearly show our commitment to stakeholders. I would like to extend my appreciation and gratitude to the Chairman of the Board of Directors for his sagacity and stewardship and the entire Board of Directors for their invaluable feedbacks, continued support, and trust in me and my team. Our aim is to leverage our combined strengths in banking to offer holistic and seamless solutions across business segments.”