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Arefin reappointed City Bank MD

  • Staff Correspondent
  • 20 January, 2022 12:00 AM
  • Print news

Mashrur Arefin has been reappointed managing director and CEO of The City Bank Limited for another three-year term.

Mashrur’s reappointment already received approval of Bangladesh Bank, effective from January 2022, said a press release.

The City Bank Limited chairman Aziz Al Kaisar confirmed the reappointment recently.

Mashrur Arefin took over the charge of the bank’s MD and CEO in January 2019 for the first time.

During the term, the bank established itself as a leading lender focusing not only on serving urban communities but also reaching all people, the statement said.

This helped the company become people’s bank, it added.

Over the past three years, the bank’s annual income increased by 35 per cent and crossed Tk 20 billion for the first time.

Its Operating Profit increased by 61 per cent, which gave the bank entry into the elite club few banks whose Operating Profit is above Tk 1000 crore.

During the same time, the cost to income ratio of the bank also reduced from 59 per cent to 50.5 per cent and annual foreign trade volume increased from $360 crore to $660 crore.

Arefin is also credited with bringing a digital focus to the institution, and with launch of small and micro finance business and the country’s first Digital Nano Loan.

He started his career as a Management Trainee in ANZ Grindlays Bank in 1995. During his 27 years of banking career, Mashrur Arefin worked for ANZ Bank in Melbourne, Standard Chartered Bank in Qatar, American Express Bank, Citybank N.A., BRAC Bank and Eastern Bank in various important positions.