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Equity Coverage on Eastern Bank PLC.
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Equity Coverage on Eastern Bank PLC.

Equity Coverage on Eastern Bank PLC.

Eastern Bank PLC. (EBL) is one of the largest private commercial banks which wins Best Domestic Bank award in 2021 and Best Corporate and Investment Bank award for four consecutive years from 2017–2020 by the Asiamoney, a renowned global financial publication. EBL is involved in all types of commercial banking and related activities such as loans and advance to personal and commercial purpose, trade service, cash management, treasury, securities, custodian services, and also off-shore banking service.

EBL holds the fourth highest market capitalization in the listed banking industry (BDT 36,700 mn). Its share price inched down 17.4% (YoY) in 2022, because of a challenging capital market environment characterized by some economic challenges. Share price went dry due to the regulatory floor price impact followed by the global geopolitical and economic crises. EBL is one of the largest private sector commercial bank in Bangladesh in terms of total assets, which stood at BDT 459,868 million, as at the end of 2022 with a CAGR of 12.4% over the past five years.

Sector wise credit concentration

In December 2022, the deposit base of EBL reached at BDT 316,327 million from BDT 267,448 million, having grown by 18.3% from the preceding year. NPL ratio of EBL stood only at 2.78% (solo) as of December 2022 whereas industry NPL ratio was 8.16% as of that date. NPL ratio decreased by 92 bps from 3.70% of December 2021. ROE of EBL stood 15.46% (solo) at the end of 2022 and average 14.5% in the last five years, which is one of the highest among all listed banks.

EBL
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