Business Desk :
Mashrur Arefin has been reappointed as the managing director and CEO of the City Bank Limited for another term of three years.
Mashrur’s reappointment approved by the board of directors of the bank has received a positive nod by the central bank effective from January 2022.
Bank’s Chairman Aziz Al Kaisar confirmed the reappointment recently, as stated in a press release issued by the bank on Tuesday.
Mashrur Arefin took over the charge of the bank’s CEO in January 2019 for his first term of three years.
During this time, City Bank has established itself as a leading lender focused not only on serving urban communities but also on offering access to banking to the entire populace as a people’s bank.
In the last three years, the bank’s annual income has increased by 35% and crossed Tk2000 crore for the first time, and its operating profit increased by 61%, which gave the bank entry into the elite club few banks whose operating profit is above Tk1000 crore.
During the same time, the cost to income ratio of the bank also reduced from 59% to 50.5% and annual foreign trade volume increased from $3.6 billion to $6.6 billion.
He is also credited with bringing a digital focus to the institution and with the launch of small and microfinance businesses and the country’s first Digital Nano loans.
Mashrur started his career as a management trainee in ANZ Grindlays Bank in 1995.
In his 27 years career, he worked for ANZ Bank in Melbourne, Standard Chartered Bank in Qatar, American Express Bank, City Bank N.A., Brac Bank and Eastern Bank in various important positions.
Mashrur is also well known in the country as a novelist, poet and translator of good stature.
