Financial Highlights

BDT Million

Group

Bank
Change
%

2013

2012

4,886

1.45%

4,892

4,814

1.61%

3,934

17.59%

4,578

3,913

16.99%

9,582

8,819

8.65%

9,469

8,727

8.51%

Operating Profit

5,827

5,614

3.80%

5,788

5,464

5.94%

Profit After Tax

2,535

2,393

5.95%

2,568

2,275

12.87%

Loan

103,331

96,894

6.64%

102,910

96,720

6.40%

Investments

26,018

21,655

20.15%

25,904

21,655

19.62%

Deposits

117,037

91,435

28.00%

117,102

91,781

27.59%

Particulars

2013

2012

Net Interest Income

4,956

Non Interest Income

4,626

Operating Income

Change
%

Performance During the Year

Year End Financial Position

Shareholders equity

18,559

17,250

7.59%

18,450

17,109

7.84%

Total Assets

158,163

147,044

7.56%

157,882

147,148

7.29%

Earnings per share (weighted average)

4.15

3.91

6.14%

4.20

3.72

12.90%

Dividend (%)

20%

20%

0.00%

20%

20%

0.00%

Information Per Ordinary Share

Price earning ratio (times)

7.01

8.11

-13.51%

6.93

8.52

-18.66%

Net asset value per share (BDT)

30.37

28.22

7.59%

30.19

27.99

7.84%

Market price per share (BDT)

29.10

31.70

-8.20%

29.10

31.70

-8.20%

12.01%

12.18%

-1.40%

11.95%

12.05%

-0.85%

Ratios (%)
Capital adequacy ratio (as per Basel II)
Non performing loans

3.58%

3.17%

12.90%

3.59%

3.17%

13.16%

Cost to income ratio

39.18%

37.52%

4.44%

38.87%

37.39%

3.97%

Reaching Closer: Channel Standing 2013

Branch

ATM

Bills pay

Priority Center

SME Center

Student Center

71

175

42

11

55

Phone Banking (24X7 Contact Center):

Just a call away to 16230

Internet Banking:

log in from PC or mobile from anywhere in the world

SMS Banking:

Just an SMS away to 6969

EASTERN BANK LIMITED

ANNUAL REPORT 2013

stakeholders information

Five-Year Progression of EBL

BDT Million

PARTICULARS

2013

2012

2011

2010

2009

Balance Sheet Metric

Authorised capital
Paid up capital
Shareholders equity
Deposits
Borrowing

12,000

12,000

12,000

12,000

3,300

6,112

6,112

4,527

2,921

2,496

18,450

17,109

14,407

12,084

8,429

117,102

91,781

75,536

56,425

49,190

14,080

31,158

21,652

9,257

8,835

Loans and advances

102,910

96,720

81,774

58,607

47,668

Credit to deposit ratio (Gross)

87.88%

105.38%

108.26%

103.87%

96.91%

Credit to deposit ratio - Gross (excluding OBU loans)

79.66%

95.36%

99.86%

95.09%

93.78%

7.56

7.60

7.16

5.79

7.29

Investments

25,904

21,655

16,910

9,827

8,806

Fixed assets

6,897

5,970

4,453

3,614

1,804

Interest bearing assets

133,057

119,334

104,572

71,759

62,125

Total assets

157,882

147,148

117,601

82,098

69,871

4,892

4,814

3,314

2,973

2,317

Liabilities to shareholders equity (times)

Income Statement Metric

Net interest income (excluding investment income)
Non-interest income

4,578

3,913

4,476

3,487

2,313

Investment income

2,071

1,495

1,970

2,050

955

Non investment income (exchange, fees & charges)

2,507

2,418

2,506

1,437

1,358

Operating income

9,469

8,727

7,791

6,461

4,630

Operating profit (profit before provision and tax)

5,788

5,464

5,107

4,410

2,980

Provision for loans, investment and other assets

953

1,244

978

417

280

Profit before tax

4,836

4,220

4,129

3,992

2,701

Profit after tax (PAT)

2,568

2,275

2,521

2,425

1,455

140,279

129,812

130,351

104,440

73,316

13,245

12,232

10,199

8,375

6,441

3,519

3,414

3,071

2,912

1,875

Capital Metric (As per Basel II)

Risk weighted assets (RWA)
Core capital (Tier 1)
Supplementary capital (Tier 2)
Total capital / Regulatory capital (Tier 1 and 2)

16,764

15,646

13,270

11,287

8,317

11.95%

12.05%

10.18%

10.81%

11.34%

9.44%

9.42%

7.82%

8.02%

8.79%

88.85%

88.22%

110.84%

127.21%

104.93%

Non performing/classified loans (NPLs)

3,697

3,071

1,561

1,169

1,172

Specific provision

1,929

1,387

866

611

756

Capital adequacy ratio-solo (regulatory capital/RWA)

Core capital (Tier 1) to RWA
RWA to total assets
Credit Quality

General provision
NPL to total loans and advance

1,644

1,563

1,541

1,107

876

3.59%

3.17%

1.91%

1.99%

2.46%

Trade Business Metric

Export
Import (LC)
Guarantee

74,003

67,518

58,589

39,633

34,548

112,977

103,171

100,639

70,665

54,370

6,307

6,528

4,497

2,727

1,319

57

BDT Million

PARTICULARS

2013

2012

2011

2010

2009

Return on average equity (ROE)

14.44%

14.44%

19.03%

23.64%

22.10%

Return on average assets (ROA)

1.68%

1.72%

2.52%

3.19%

2.34%

Cost to income ratio

38.87%

37.39%

34.44%

32.10%

35.62%

Yield on average loan

13.67%

13.79%

13.40%

12.75%

13.69%

Cost of average deposit

8.24%

9.11%

8.40%

6.74%

8.55%

Net interest margin ratio

3.88%

4.30%

3.76%

4.44%

4.25%

29.87%

22.93%

24.98%

19.93%

23.17%

6.10%

5.98%

6.00%

5.84%

5.51%

3.86

4.07

4.21

4.53

3.39

81.52

81.55

86.57

89.99

76.41

Earnings per share (EPS) in BDT

4.20

3.72

4.12

5.36

5.00

Operating profit per share in BDT

9.47

8.94

8.36

15.10

10.24

Price earning ratio (times)

6.93

8.52

15.97

24.16

12.89

Market price per share (BDT) as on close of the year at DSE

29.10

31.70

65.80

129.40

64.43

NAV (book value) per share in BDT

30.19

27.99

31.82

41.37

33.76

2.10

1.86

1.18

0.97

1.35

Dividend (%)

20

20

35

55

37

Cash (%) (proposed for 2013)

20

20

20

Efficiency / Productivity Ratios

Statutory liquidity reserve ratio

Cash reserve ratio
Operating profit per employee
Operating profit per branch
Share Distribution Metric

Dividend cover ratio: (EPS/DPS)

Stock (%)

35

55

17

Market capitalization (at close of year)

17,785

19,374

29,789

37,795

16,083

Market price to net assets ratio (times)

0.96

1.13

2.07

3.13

1.91

71

67

59

49

39

1,498

1,343

1,214

973

878

No of deposit accounts

352,627

305,363

218,239

194,351

176,080

No of loan accounts

178,896

132,238

88,375

65,656

35,125

Other Information (Actual Figure)

No of branches
No of employees (regular)

No of foreign correspondents

715

663

660

644

665

Number of ATM

175

160

125

74

57

EBL 365

161

147

104

71

57

SME center

55

50

40

33

23

No of bills pay machine

42

42

27

10

No of priority center

11

EASTERN BANK LIMITED

ANNUAL REPORT 2013

stakeholders information

Market Price Information

DSE

CSE

Month High

Month Low

Total
Volume

Month High

Month Low

Total
Volume

Total
Volume on
DSE & CSE

Jan-13

32.60

30.90

3,051,800

32.50

31.20

190,898

3,242,698

Feb-13

33.50

31.80

4,061,400

33.70

31.40

347,980

4,409,380

Mar-13

33.10

25.40

4,695,200

32.60

26.80

425,662

5,120,862

Apr-13

27.40

24.90

2,001,800

27.20

24.60

326,782

2,328,582

May-13

28.70

26.70

2,350,800

28.10

26.40

874,846

3,225,646

Jun-13

27.90

26.40

4,234,000

28.00

26.50

574,529

4,808,529

Jul-13

27.50

26.10

5,632,200

27.50

25.80

191,259

5,823,459

Aug-13

27.00

25.50

2,996,400

26.80

25.30

106,739

3,103,139

Sep-13

26.80

25.50

2,974,200

26.50

25.20

191,992

3,166,192

Oct-13

27.20

26.00

2,949,000

27.00

25.20

260,855

3,209,855

Nov-13

32.40

26.80

4,844,800

30.90

26.00

425,970

5,270,770

Dec-13

29.40

27.50

1,949,600

29.00

26.70

105,020

2,054,620

Month

DSE Price Volume Chart of EBL Share: 2013

59

Vital Graphs
Key Performance Indicators: Per Share

EASTERN BANK LIMITED

ANNUAL REPORT 2013

stakeholders information

Vital Graphs
Year-end Financial Position 2013

61

Vital Graphs
Performance during the year 2013

EASTERN BANK LIMITED

ANNUAL REPORT 2013

stakeholders information

Value Added Statement

Value added is the wealth accretion made by Eastern Bank Limited through providing banking and other financial services in
2013 for its employees, directors, government and shareholders in the form of salaries & allowances, remuneration, duties &
taxes, net profit after tax respectively and also indicates value of use of fixed assets through depreciation.
Value Added for the year ended 31 December
Particulars

2013

2012

Taka

Taka

Wealth creation:
Revenue from Banking services
Less: Cost of services & supplies
Non-banking income
Provision for loans & other assets
Total wealth creation

19,339,742,807

17,559,254,496

(11,302,397,778)

(10,096,354,197)

8,037,345,029

7,462,900,299

45,228,403

51,838,834

(952,509,071)

(1,244,305,686)

7,130,064,362

6,270,433,448

1,963,508,938

1,750,682,613

Wealth distribution:
Employees & Directors
Employees as salaries & allowances
Directors as remuneration & fees

19,158,517

17,711,880

Government

2,348,830,401

2,027,720,346

Corporate tax

2,267,883,136

1,944,513,381

79,122,032

81,906,916

Service tax/ Value added tax

Municipalties/ local taxes

889,786

533,669

Excise duties

935,446

766,380

1,222,359,570

1,222,359,570

1,345,504,261

1,052,741,140

230,702,675

199,217,899

7,130,064,362

6,270,433,448

Shareholders
Dividend to shareholders
Retention for future business growth
Retained earnings
Depreciation and amortization
Total Wealth Distribution

63

Economic Value Added Statement

Economic Value Added (EVA) is the measure of financial performance of an organization. It is based on the principle that since a
companys management employs equity capital to earn a profit, it must pay for the use of this equity capital. This management
tool is useful to shareholders in particular and other stakeholders in general to take decision for increasing wealth.
EVA is equal to Profit after Tax (PAT) plus the provision for loans & other assets less written off during the year minus cost of equity
where cost of equity is the opportunity cost that the shareholders forego. This cost of equity is calculated considering the risk free
rate based on weighted average rate of 10 years treasury bond issued by Bangladesh Government plus 2% risk premium. EBL
management is deeply concerned for maximization of wealth of its shareholders and other equity providers.

EVA statement for the year ended 31 December

Figures in BDT

Particulars

2013

2012

18,450,498,173

17,109,339,472

4,481,469,159

3,695,777,983

Capital employed

22,931,967,333

20,805,117,455

Average capital employed / shareholders' equity

21,868,542,394

18,950,598,168

2,567,863,831

2,275,100,710

Add: Provision for loans & advances and other assets charged during the year

952,509,071

1,244,305,685

Less: Written off loans during the year

322,366,338

385,918,914

3,198,006,564

3,133,487,481

14.16%

13.80%

3,096,585,603

2,615,182,547

101,420,961

518,304,934

Shareholders equity
Add: Accumulated provision for loans & advances and other assets

Earnings:
Profit after tax

Net earnings
Cost of equity:
Average cost of equity (based on weighted average rate of 10 years treasury bond issued
by the Bangladesh Government) Plus 2% risk premium
Capital charge (cost of average equity)
Economic value added

EASTERN BANK LIMITED

ANNUAL REPORT 2013

stakeholders information

Market Value Added (MVA) Statement

Market value added statement reflects the companys performance evaluated by the market through the share price. This
amount is derived from the difference between market capitalization and book value of the shares outstanding. It signifies the
enhancement of financial solvency as perceived by the market.
Market Value Added statement as at 31 December
Particulars

2013

2012

Face value per share (BDT)

10.00

10.00

Market value per share (BDT)

29.10

31.70

Number of shares outstanding

611,179,785

611,179,785

Total market capitalization (BDT million)

17,785.33

19,374.40

Book value of paid up capital (BDT million)

6,111.80

6,111.80

Market value added (BDT million)

11,673.53

13,262.60

Financial Goals and Performance (Bank)

Particulars

Goals 2014

Goals 2013

Actual 2013

Actual 2012

Capital adequacy ratio (CAR) %

11% Plus

11% Plus

11.95%

12.05%

Return on average equity (ROE) %

20% Plus

20% Plus

14.44%

14.44%

Return on average assets (ROA) %

2.5% plus

2.5% plus

1.68%

1.72%

Cost to income ratio (%)

Less than 35%

Less than 35%

38.87%

37.39%

NPL to total loans and advance (%)

Less than 3%

Less than 3%

3.59%

3.17%

4.50

4.50

4.93

4.83

Deposits (BDT million)

126,085

109,524

117,102

91,781

Loans and advances (BDT million)

124,663

107,873

102,910

96,720

Weighted average credit risk grade (Number)

65