Mashrur Arefin has been reappointed as the managing director & CEO of The City Bank Limited for another three years.
His reappointment will take effect from January 2022, the private commercial bank said in a press release on Tuesday.
Earlier in January 2019, Mr Arefin first joined The City Bank as its MD and CEO.
And since then over the three years, the bank’s income annual income has increased by 35 per cent and crossed Tk 20 billion for the first time, and its operating profit increased by 61 per cent, which gave the bank entry into the elite club of a few banks whose operating profit is above Tk 10 billion. During the same time, the cost to income ratio of the bank also came down from 59 per cent to 50.5 per cent and annual foreign trade volume increased from USD 3.6 billion to USD 6.6 billion.
Mr Arefin is also credited with bringing a digital focus to the institution, and with the launch of small and micro finance business and the country’s first Digital Nano Loan.
He started his career as a management trainee in ANZ Grindlays Bank in 1995. In his 27-year career, he worked for ANZ Bank in Melbourne, Standard Chartered Bank in Qatar, American Express Bank, Citibank N.A., BRAC Bank and Eastern Bank in various important positions.
He is also well known in the country as a novelist, poet and translator of good stature.