Central Bank rates City Bank as no 1 in its Sustainability Rating 2024

City Bank has secured the top position in the Sustainability Rating 2024 conducted by Bangladesh Bank.

This marks the 5th consecutive year that City Bank has been recognized as one of the Top 10 sustainable banks in Bangladesh, according to a media release. 

However, for the first time this year, the central bank has officially announced the ranking, placing City Bank at the very top in its rating for last year among the 10 leading sustainable banks of the country.

Governor of Bangladesh Bank, Dr. Ahsan H. Mansur, handed over the crest and certificate to Mashrur Arefin, Managing Director & CEO of City Bank, at an event held yesterday at the central bank where Deputy Governor Nurun Nahar and other central bank officials were present.  

Bangladesh Bank prepares this sustainability rating from two broad perspectives: (1) Financial Sustainability—measured through core banking performance indicators such as capital adequacy, liquidity, asset quality, profitability, cost efficiency, customer accessibility, standards of corporate governance and so on; and (2) Environmental Sustainability—assessed through bank's performance in sustainable finance, green finance, CSR initiatives etc.

City Bank’s MD & CEO, Mashrur Arefin, said, "Financial sustainability of banks, to me, is more important right now in our country than even environmental sustainability. Since the rating accounts for both, it effectively becomes the Best Bank rating accorded by our main regulator. That is what makes us all happy and proud—our Board of Directors, our management, our customers, and all other stakeholders alike."

He further added that the Board has mandated City Bank’s management to transform the institution into a financial entity that "behaves and serves the entire population as a fintech company with a banking license."

Concluding, he said, "We are progressing towards that vision."