By I.H.Sharif :
City Bank, a private commercial bank (PCB) in Bangladesh, seems to have set the trend of winning awards given by internationally famous organisations like Global Finance, FinanceAsia and Euromoney.
The Bank has won ‘Best Consumer Internet Bank in Bangladesh’ award from Global Finance, a North America based leading financial publication. It received this accolade for the success of its state-of-the-art Internet Banking platform, Citytouch. The service brings together all the conveniences of branch banking to the screens of internet-enabled devices. Upon receiving the award, City Bank’s Chairman Rubel Aziz said, “We are inspired and will bring even more significant internet banking developments onto Citytouch in the near future.”
City Bank has also won ‘Best Commercial Bank in Bangladesh’ award from FinanceAsia for the second time. The award was announced at an Award Ceremony in Singapore, which was attended by more than 300 leading bankers from across the Asia Pacific region. The citation said: ‘City Bank responded with sound management and succeeded in improving asset quality and liquidity, while cutting its costs of funds and maintaining adequate capital’. Upon receiving the award, the bank’s Director and Ex-Chairman Aziz Al Kaiser said, “We are quite excited to receive this award for the second time. This recognition shows our strong commitment to the valued customers”.
City Bank has also won ‘Best Bank in Bangladesh Award’ from Euromoney. Euromoney is the world’s leading financial publication read by high-ranking financial decision makers in more than 100 countries. The award was announced at an award ceremony in Hong Kong, which was attended by 500 leading bankers from across the globe. This was the first time that Euromoney included Bangladesh and City Bank was the winner of the inaugural award.
Available statistics show that City Bank’s investments have steadily increased from BDT 12,476 million in 2010 to BDT 15,431 million in 2011, BDT 20,291 million in 2012, BDT 26, 492 million in 2013 and BDT 28,710 million in 2014-the increase is about two and a half times in five years.
The total assets of City Bank have also steadily increased from BDT 90,898 million in 2010 to BDT 177,228 million in five years-the increase is nearly double in five years.
City Bank’s profit after tax has increased from BDT 1,849 in 2010 to BDT 2,215 in 2014-although its profit after tax decreased to BDT 763 in 2012, which again increased to BDT 911 million in 2013.
