Eastern Bank Limited (EBL) won the "Best Domestic Bank in Bangladesh 2023" award given by The Asiamoney, a London-based financial and management publication.

The bank won the award for the third consecutive year, said a press release.

"It's a great honour for team EBL and a testament to our strength and resilience.  I take the opportunity to share this award with all our valued clients, stakeholders, and patrons," said Ali Reza Iftekhar, managing director and CEO of the bank.

Amid surging global interest rates, runaway inflation, and geopolitical upheaval, 2022 was challenging for Bangladesh's financial system, according to The Asiamoney.

However, EBL management kept a clear eye on future growth and competitiveness. The bank weathered the global chaos by prioritising compliance, controlling costs, product innovation, increasing internal productivity, and strengthening customer service.

The Asiamoney's award decisions were made by a team of senior journalists after receiving detailed submissions from market participants and in conjunction with research into the banking and capital markets by its editorial committee.