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Banking Horizon

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Banking Horizon Widening banking horizon The business environment that we operate in is changing fast and abrupt; sometimes even before we are prepared for it. Competitive edge is vanishing under growing competition. In the ever changing scenario of the market place, business giants are suffering or even pushed to insignificance failing to understand the changing scenario of the market place. Start-ups are posing challenge to established companies with their offerings and smart solutions. Continuous innovation and widening business horizon have become the buzz words in the marketplace we operate now. To remain obsessed only with core business and competencies can prove to be costly. Surviving and sustaining in the ever changing business environment not only requires strengths in core competencies, but also demands thinking out of the box or widening horizon. With a very successful operation in Hong Kong, a foothold in Myanmar, and windows soon to be opened in China and India, we are widening our banking horizon and aiming to become a regional bank. Annual Report 2017 WIDENING HORIZON IN MYANMAR Myanmar (formerly Burma) is a Southeast Asian nation of more than 100 ethnic groups, bordering India, Bangladesh, China, Laos and Thailand. Yangon (formerly Rangoon), the country's largest city, is home to bustling markets, numerous parks and lakes, and the towering, gilded Shwedagon Pagoda, which contains Buddhist relics and dates. 2 Organizational Overview WIDENING HORIZON IN MYANMAR Myanmar (formerly Burma) is a Southeast Asian nation of more than 100 ethnic groups, bordering India, Bangladesh, China, Laos and Thailand. Yangon (formerly Rangoon), the country's largest city, is home to bustling markets, numerous parks and lakes, and the towering, gilded Shwedagon Pagoda, which contains Buddhist relics and dates. 3 Annual Report 2017 WIDENING HORIZON IN HONG KONG Hong Kong is an autonomous territory, and former British colony, in southeastern China. Its vibrant, densely populated urban centre is a major port and global financial hub with a skyscraper-studded skyline. Central (the business district) features architectural landmarks like I.M. Pei's Bank of China Tower. Hong Kong is also a major shopping destination, famed for bespoke tailors and Temple Street Night Market. 4 Organizational Overview WIDENING HORIZON IN HONG KONG Hong Kong is an autonomous territory, and former British colony, in southeastern China. Its vibrant, densely populated urban centre is a major port and global financial hub with a skyscraper-studded skyline. Central (the business district) features architectural landmarks like I.M. Pei's Bank of China Tower. Hong Kong is also a major shopping destination, famed for bespoke tailors and Temple Street Night Market. 5 Annual Report 2017 TOUCHING LIVES, IMPACTING ECONOMY POWER & ENERGY SECTOR We are supporting power projects with generation capacity over 2000 MW of electricity 6 Organizational Overview TOUCHING LIVES, IMPACTING ECONOMY POWER & ENERGY SECTOR We are supporting power projects with generation capacity over 2000 MW of electricity 7 TOUCHING LIVES, IMPACTING ECONOMY WE HANDLE OVER 4% OF THE COUNTRY’S TOTAL TRADE VOLUME Organizational Overview TOUCHING LIVES, IMPACTING ECONOMY WE HANDLE OVER 4% OF THE COUNTRY’S TOTAL TRADE VOLUME 9 TOUCHING LIVES, IMPACTING ECONOMY EBL HAS MADE AIR TRAVEL EASY We have financed 12 aircrafts so far worth USD 192 million Organizational Overview TOUCHING LIVES, IMPACTING ECONOMY EBL HAS MADE AIR TRAVEL EASY We have financed 12 aircrafts so far worth USD 192 million 11 CONTENTS Letter of Transmittal 14 Market Price Information of EBL Share 63 EBL at a Glance in 2017 15 DSE Price-Volume Movement of EBL Share 63 A Year of Accolades and Appreciations 16 Financial Goals and Performance (Bank) 63 Graphical Presentation 64 Organizational Overview Value Added Statement 67 Vision, Mission and Values 18 Economic Value Added Statement 68 Strategic Priority 20 Market Value Added (MVA) Statement 68 Corporate Directory 21 Organogram 24 Financial Calender 69 Board of Directors 27 Capital Market Exposure 71 Management Committees 34 Credit Rating 72 Our Journey 40 Glimpses from the 25th AGM 73 Code of Conduct and Ethical Guidelines 42 Stewardship Governance Reports Chairman’s Message 44 Directors’ Responsibility Statement 75 Managing Director & CEO's Review 46 Report of the Audit Committee 77 Directors' Report 49 Report of the Risk Management Committee of the Board 80 Business Model and Value Creation Corporate Governance Report 82 Certificate on Compliance of Corporate Governance Business Model 54 106 Guidelines Value Creation for the Stakeholders 56 Risk Management 107 Our Engagement with Stakeholders 57 Disclosures on Risk Based Capital (BASEL-III) 119 Products & Services 58 Capital Planning and Management 131 Stakeholders' Information Going Concern & Viability 133 Financial Highlights 61 Management of Non-performing Loan (NPL) 135 Five-Year Financial Progression 61 Recovery of Classified and Write-off Loans 137 CONTENTS Consumer Banking 157 Sustainability Report Treasury 161 Sustainability: An Overview 139 Commercial Banking 164 Sustainability Governance 139 Review of EBL Subsidiaries 166 Performance Highlights in 2017 139 IT: The Enabler of Business 172 Key Strategic Issues 140 Centralized Operations 174 Material Concerns for Sustainability 141 Tax Planning and Management 176 Commitment to Sustainable Development 141 Human Capital 177 Environmental Aspect 141 We Provide Best-in-Class Service 182 Economic Aspect 143 EBL Nest: A Center for Idea Generation 184 Social Aspect 143 Financial Reports Sustainability Plan 2018-2020 145 Statement on the Integrity of Financial Statements 187 Corporate Social Responsibility Auditor’s Report to the Shareholders 188 Our Corporate Citizenship Strategy 146 Consolidated & Separate Financial Statements 190 Education: Key to Social and Economic Development 147 Financial Statements of Offshore Banking Unit (OBU) 273 Promoting Human Welfare 147 Financial Statements of the Subsidiaries 281 Contribution to National Exchequer 148 Supplementary Information Women Empowerment 148 Environment-friendly Bank 148 Corporate Governance Disclosure Checklist 313 Branch Network Disaster Management 149 315 Correspondent Bank Network 317 Management Discussion and Analysis Abbreviations 320 Financial Performance Review 151 Media Coverage 321 Business Review Notice of the 26th AGM 322 Corporate Banking 154 Proxy Form 323 Letter of Transmittal All Shareholders of Eastern Bank Limited Bangladesh Bank Bangladesh Securities and Exchange Commission (BSEC) Registrar of Joint stock Companies & Firms Dhaka Stock Exchange Limited (DSE) Chittagong Stock Exchange Limited (CSE) Dear Sir, Annual report of Eastern Bank Limited for the year ended 31 December 2017. We are pleased to present before you the Bank’s (EBL) Annual Report 2017 along with the audited Financial Statements (Consolidated and Separate) for the year ended 31 December 2017 and as on that date. Financial Statements of ‘The Bank’ comprise those of EBL On-shore (main operation) and Off-shore Banking Unit (presented separately) whereas consolidated Financial Statements comprise Financial Statements of ‘The Bank’ and those of its subsidiaries [EBL Securities Ltd., EBL Investments Ltd., EBL Finance (HK) Ltd. and EBL Asset Management Ltd.] presented separately. Analyses in this report, unless explicitly mentioned otherwise, are based on the financials of ‘The Bank’ not the consolidated financials. Yours Sincerely, Safiar Rahman, FCS DMD & Company Secretary 14 EBL at a Glance in 2017 Figures in million Growth 253,365 Total Balance Sheet Size 19.97% 184,027 Total Loans & Advances 21.00% 167,348 Total Deposits 19.29% 6,796 Operating Profit 5.88% 2,405 Profit After Tax -9.47% 23,302 Total Regulatory Capital 3.69% 37,712 Market Capitalization 85.02% Ratios NPL ROA ROE 2.50% 1.04 % 11.41% Cost to Income ratio EPS (BDT) CRAR 45.20% 3.26 14.09% 15 A Year of Accolades and Appreciations 25 years of journey down the line along with dedicated team of The Bank also received ICMAB Best Corporate Award 2016 that employees and thousands of happy customers are sparkling signifies Bank’s resilient performance over the years. Our relentless achievements for the Bank. This demands retrospection, taking effort to upgrade and update on every account of standardization stock of what has been achieved and setting eyes on future. is reflected in our Operations department’s recent ISO 9001: 2015 certification. The world of business is changing fast in fundamental ways. It is difficult to predict what lies ahead and getting prepared for future The third source of our strength is service excellence. In retail course of action. Every day we experience rapidly evolving customer banking we are now regarded as a leader in the market. The needs, faster leveling of competitive advantage, greater regulation, Singapore-based Asian Banker Awards for Excellence in Retail and ever-changing nature of technology and risk. The greatest Banking found our performance as a retail bank at par with the best challenge is coming from the frontiers of tech innovation. in banking. We have been awarded with the Best Retail Bank in Bangladesh accolade for the last five consecutive years since 2013. Our business is founded on ethos of leveraging strengths, rising to the challenges of the volatility of markets, pursuing best corporate The rating by a top global agency like Moody’s in March 2016 was governance and having a culture of best processes and consistent a high point in our journey to excellence.
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