Mashrur Arefin has been reappointed as Managing Director and CEO of City Bank. Bangladesh Bank has permitted his reappointment for three years after having the approval of the bank's board of directors.
This information was given through a press release on Tuesday (January 18). It states that in January 2019, Mashrur Arefin became the MD and CEO of City Bank for the first time. In the last three years, he has been able to take the bank to the glorious level.
During this period, the bank's annual income increased by 35% and exceeded 2000 crore taka while its operating profit increased by 61% giving it entry into the prestigious club with a profit of 1000 crore taka. At the same time, the bank's revenue-to-expenditure ratio has dropped from 59 percent to 50.5 percent in the last three years, and annual foreign trade volume has grown from 3.6 billion to 6.7 billion dollars.
Under the leadership of Mashrur Arefin, City Bank is moving from a city-based bank to a digital bank for the people of the entire country with a financial inclusion agenda in mind. He introduced digital nano loans and traditional small and microfinance in banks.
Apart from being a banker, Mashrur Arefin has a different identity. He is also a writer.
After passing SSC and HSC from Barisal Cadet College, he pursued English Literature at Aligarh Muslim University. He then completed his MA degree from Dhaka University. He completed his MBA from Victoria University in Melbourne, Australia.
He began his career as a management trainee at ANZ Grindlays Bank in 1995 and worked in its headquarter in Australia. He later became the head of ANZ's Consumer Finance, Bangladesh. He has also worked for Standard Chartered Bank, Qatar and ANZ Banking Group in Melbourne, Australia. He was the Director of American Express Bank, Bangladesh and for a short time served as Resident VP, Bangladesh at City Bank N.A. He was the Head of Consumer Banking at Eastern Bank Limited. He then joined City Bank.
Mashrur joined City Bank in 2007 as Head of Retail Banking. In January 2019, he was appointed as the Managing Director and CEO of City Bank Limited. Among other roles, he has also served as the bank's chief communications officer and chief operating officer. He is a director of the Bank's subsidiary Remittance Company in Malaysia and its subsidiary Merchant Bank.
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