Business Report :
Mashrur Arefin has been reappointed as the 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 today. 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. Over the past six years, he has steered the bank to unprecedented heights, according to the press release.
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. This milestone marked the proud entry of City Bank as one of the very few local banks into the exclusive Tk 2,000 crore profit club.
In the same period, the bank’s income-expense ratio improved significantly, dropping from 58.1 percent to 42.1 percent; and its foreign trade volume grew from $3.6 billion to $7.02 billion annually.
