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EBL clinches The Banker’s ‘Bank of the Year 2020’ award

Eastern Bank Ltd (EBL) yesterday won the title of 'Bank of the Year 2020' in Bangladesh awarded by London-based magazine The Banker.

EBL is the first bank in the country to win this award for a second consecutive year, according to a press release.

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This year, the award was announced by The Banker's Asia Editor Kimberly Long through a virtual ceremony.

"This is a global recognition of our efforts towards digital transformation and sustainability," said Ali Reza Iftekhar, managing director of EBL.

In an excellent display of resilience, EBL maintained a fine balance between liquidity, profitability and solvency throughout the coronavirus pandemic to post positive growth in 2020 which continued in 2021, he added.

In addition, considering the global pandemic, the jury board this year continued to focus on resilience and services provided to customers by winning banks and how they have initiated digital transformations while emphasising sustainable growth.

According to the judges, this year's awarded banks "truly demonstrated a level of stability that is a testament to their organisational strength".