City Bank has recently signed an advisory agreement with International Finance Corporation (IFC), a member of the World Bank Group, to facilitate transformation across its SME and Retail business functions. This “project” includes advisory engagement for product design and process re-engineering, data analytics, performance management, alternate business propositions, banking on women and digital banking.
Sohail Hussain, MD & CEO, City Bank and Vittorio Di Bello, Regional Head - Asia & Pacific, IFC signed the agreement on behalf of their respective organizations. The event was also attended by Mashrur Arefin, Additional MD & the Project Sponsor from City Bank and Raja Debnath, Senior SME Banking Advisory Specialist & Project Head from IFC side. It was also attended by Adil Islam, Additional MD, City Bank; Andrew Robert Cross, Deputy Treasurer - Asia & Pacific, IFC and other senior officials from both the organizations.
In addition to the recent equity investment in the Bank, this Advisory Services agreement showcases IFC’s commitment to increased engagement with City Bank, said a statement.