The International Finance Corporation (IFC) awarded Eastern Bank (EBL) as the "Best Partner for Equipment Trade in South Asia" under its Global Trade Finance programme.
IFC’s ninth annual trade awards, held recently, recognised the partners’ leadership in providing trade finance in emerging markets, said a press release.
The release also said that strong monitoring, quality customer base and global development financial institutions (DFIs) and bank partners made EBL one of the most valuable brands in country’s banking industry.
It also said that EBL has been utilising IFC’s facilities to support international trade businesses, offshore banking, and FCY funding requirements of its customers.
It has been an honour and privilege to have received this award which reflects how effectively and efficiently EBL has been supporting the businesses of the country by using its global correspondent banking and DFI relationship. It ensures a win-win outcome for the partners including customers engaged, DFIs, global correspondent banks and EBL, said Ali Reza Iftekhar, managing director and CEO of EBL.
The bank had previously won "Leading SME Trade Bank for 2020" from the Asian Development Bank.
