Dhaka, Bangladesh (BBN) – Eastern Bank Limited (EBL) has planned to set up two branches in neighbouring India, according to a company announcement.
“….the Board of Directors has decided to appoint PWC (PricewaterhouseCoopers), Kolkata for ground support of getting the required approval for License from the Reserve Bank of India to open and set up EBL Branches at Kolkata, West Bengal and at Guwahati, Assam in India, subject to approval of all Regulatory Authorities in this regard at home and abroad (India),” the EBL said in a posting on the Dhaka Stock Exchange (DSE) website on Thursday.
Each share of EBL traded at BDT 32.1 on the Dhaka bourse on Thursday. In 2016, the private commercial bank offered 20 per cent cash and 5.0 per cent stock dividends to its shareholders.
The EBL has 82 branches across the country and three representative offices in China, Myanmar and Hong Kong.
Earlier AB Bank Limited, another PCB of Bangladesh, opened its first full-fledged overseas branch in Mumbai in 1996, while state-owned Sonali Bank Limited has a branch in Kolkata.