For Eastern Bank, agent banking was not launched as a tactical outreach experiment. According to Managing Director Ali Reza Iftekhar, the initiative was conceived to serve two objectives simultaneously: extending safe, technology-driven banking services to unbanked and marginal communities and building a sustainable growth platform that could expand banking operations at lower structural cost.
From the outset, the bank viewed agent banking as more than an alternative delivery channel. Iftekhar describes it as a long-term strategic investment that supports low-cost deposit mobilisation, new customer acquisition and the gradual expansion of digital banking.
The emphasis, he notes, has been on establishing a foundation that aligns inclusion goals with balance-sheet sustainability.
EBL’s agent banking network has since expanded nationwide, with steady growth in both customer numbers and transaction volumes. The bank’s focus has been on rural, marginal and underserved areas, where agent outlets often serve as the primary point of access to formal banking.
This expansion, Iftekhar says, has materially widened the bank’s outreach without replicating the cost structure of branch expansion.
In terms of inclusion outcomes, the bank points to practical gains rather than abstract targets. Agent banking has simplified account opening, encouraged regular savings and made remittance receipts more accessible for rural households.
Beyond basic transactions, the platform has also enabled EBL to extend credit to marginal groups on simplified terms, which Iftekhar says helps reduce dependence on informal and often exploitative lending arrangements.
Deposit mobilization has been a central pillar of the model. The bank reports that agent banking has brought many first-time customers into the formal system through small but consistent savings.
Over time, this has contributed to a more diversified and stable deposit base, anchored in retail customers rather than concentrated funding sources.
Product design has been tailored accordingly. Farmers are served through the Shakti Account, while women entrepreneurs can access Mukti Loan facilities based on limited transaction histories.
Small-value monthly savings schemes starting from Tk100 and longer-term savings products from Tk10,000 are structured to accommodate customers with modest and irregular incomes. In some locations, these services are supported by basic financial literacy and training initiatives.
As the network has grown, operational discipline and risk management have become increasingly central. EBL relies on biometric verification, real-time transaction monitoring and strict compliance with anti-money laundering and combatting the financing of terrorism requirements.
These controls are reinforced through robust IT security systems, regular audits and continuous field-level supervision. Bank representatives are deployed to monitor agent outlets and ensure adherence to operational standards.
Maintaining service quality across a geographically dispersed network presents its own challenges. The bank addresses this through recurring agent training, on-site inspections, transaction analysis and structured reviews of customer complaints. Performance monitoring, Iftekhar says, is designed to identify gaps early and maintain consistency across outlets.
Despite the progress, the bank acknowledges persistent constraints. Limited financial awareness among customers, the need for continuous capacity building of agents and the management of technological risks remain among the most significant challenges.
Addressing these issues, the bank believes, requires sustained institutional effort alongside supportive policy environments.
Looking ahead, EBL sees scope for strengthening the agent banking ecosystem through improved digital infrastructure, broader product diversification and incentive-based policy support.
In particular, Iftekhar points to targeted support for women-focused lending and remittance services as areas with potential to deepen impact.
Over the next five years, the bank plans to expand its agent network further, introduce additional digital and value-added services and bring more rural populations into the formal banking system. Alongside expansion, the emphasis, he says, will remain on improving service quality and operational discipline.
His message to customers centres on financial habit rather than product choice. Regular savings and disciplined financial behaviour, supported by secure banking channels, are presented as the foundation of resilience.
For young entrepreneurs, agent banking is framed not merely as a business opportunity, but as a platform that combines commercial viability with a broader role in financial inclusion and social development.
