Thursday | 16 January 2025 | Reg No- 06
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Thursday | 16 January 2025 | Epaper
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City Bank re-appoints Mashrur Arefin as MD 

Published : Thursday, 16 January, 2025 at 12:00 AM  Count : 18
Business Desk
 
Mashrur Arefin has been reappointed as Managing Director and CEO of City Bank for the next three years. Following the approval of the bank's Board of Directors, Bangladesh Bank has approved his reappointment on Tuesday. 

This was announced in a press release of the bank, quoting its Chairman Aziz Al Kaiser. Mashrur Arefin first assumed the role of MD and CEO in January 2019. 
During his tenure, the bank's annual income surged from Tk 1,595 crore to nearly Tk 4,000 crore, while its operating profit grew from Tk 668 crore to Tk 2,287 crore in 2024, as per the bank's unaudited financial report. 

In the same period, the bank's income-expense ratio improved significantly, dropping from 58.1pc to 42.1pc and its foreign trade volume grew from $3.6 billion to $7.02 billion annually. Meanwhile, deposits rose from Tk 21,000 crore to Tk 52,000 crore, and the loan portfolio expanded from Tk 23,000 crore to Tk 45,000 crore. The bank also made significant progress in asset quality, reducing its bad loan ratio from 5.3pc in 2018 to 3.6pc in 2023, while increasing the provision coverage ratio against classified loans from 72.7pc to 122 pc.

Mashrur Arefin began his banking career in 1995 as a management trainee at ANZ Grindlays Bank. Over his 30-year career, he held key positions at prominent institutions including ANZ Bank Melbourne, Standard Chartered Bank Qatar, Citibank NA, American Express Bank, BRAC Bank, and Eastern Bank. 

Mashrur is a graduate of Aligarh Muslim University, holds a Master's in English from Dhaka University, and earned an MBA from Victoria University in Melbourne.



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