Written by The Banking Post
City Bank has secured the top position in Bangladesh Bank’s 2024 Sustainability Rating, marking the first time the central bank officially disclosed the ranking of individual banks.
This recognition also cements City Bank’s position among the country’s top 10 sustainable banks for the fifth consecutive year.
At a ceremony held at Bangladesh Bank on Wednesday (20 August), Governor Dr. Ahsan H. Mansur handed over the crest and certificate to City Bank’s Managing Director and CEO Masrur Arefin. Deputy Governor Nurunnahar and other senior officials were present.
Bangladesh Bank prepares the sustainability rating on two pillars:
- Financial sustainability — evaluating banks on key indicators such as capital adequacy, liquidity, asset quality, profitability, cost efficiency, customer service, nationwide accessibility, and governance standards.
- Environmental sustainability — assessing green finance, sustainable financing, and socially responsible initiatives, particularly in environment and climate-friendly banking practices.
City Bank CEO Masrur Arefin said financial sustainability remains more crucial for the country at present than environmental factors.
“Since the rating considers both financial and environmental aspects, this is effectively the central bank’s recognition of us as the ‘best bank’ in the country. Our board, management, customers, and stakeholders all share this pride,” he noted.
He added that the bank’s board has advised management to evolve into a financial institution that operates like a fintech company, expanding services under a universal banking license.
“We are steadily moving toward that goal,” Arefin said.
