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Creating value through innovation

Article - November 13, 2012
In the past two decades product innovation, state-of-the-art IT solutions and excellence in service proposition have become synonymous with Eastern Bank Limited (EBL), the most valuable financial brand in Bangladesh.
“We value our customers and our marketing concept revolves around a customer-
centered ‘sense and response’ philosophy. The job is not to find the right customers for our products, but to find the right products for our customers. For us service excellence is not just customer satisfaction, but customer delight,” says Ali Reza Iftekhar, Managing Director and CEO, on EBL’s brand promise.

He took over as CEO of EBL when he was only 46. A visionary banker and a dynamic leader, Mr. Iftekhar transformed the size of the balance sheet of EBL in the space of three years (2007-09), from $492 million to $855 million.

“The success of EBL lies in its ‘customer first policy’ and the ethos of ‘passion to perform,” says Mr. Iftekhar and elaborates, “We are precise, confident and innovative. The trust people place in us is based on our passion to perform. We understand issues in depth. This is why we keep things simple and clear. Our brand proposition defines the way we do business. We at EBL believe in creating lasting value for our clientele, shareholders and employees, and above all for the community we operate in. Our purpose is to sustain and ensure growth by simply making profit for people and not over them.”

A promoter of positive thinking Mr. Iftekhar says, “We are optimistic about the future. Throughout our 20-year history, our belief in responsible leadership, our dedication to our customers and our fortress balance sheet has carried us through the toughest challenges. These are the core values we maintain day after day.”