Eastern Bank has been recognised by Asian Development Bank (ADB) with a 2020 Leading SME Trade Bank award for its "outstanding" contribution in supporting small and medium-sized enterprises in Bangladesh.

"This award reflects how effectively and efficiently EBL has been supporting the businesses of the country by using its global correspondent banking and DFI development finance institution) relationship," said Ali Reza Iftekhar, managing director and CEO of Eastern Bank.

"It ensures a win-win outcome for the partners including customers engaged, development financial institutions, global correspondent banks and EBL."

"EBL is a valued partner of Asian Development Bank," said ADB Relationship Manager Can Sutken.

Eastern Bank has been utilising the ADB-funded facilities to support international trade businesses, offshore banking and short and long-term requirements of customers, says a press release.

The bank has been active under a trade and supply chain finance programme of the ADB since long.

It has relationships with other development finance institutions including International Finance Corporation, German Development Finance Institution, Dutch Development Bank, French Development Financial Institution, the OPEC Fund for International Development and Development Bank of Austria.

In the wake of the Covid-19 pandemic, the global partners have increased facilities to help the business of Eastern Bank's customers and contributing to the economy of the country, says the statement.