City Bank tops Bangladesh Bank Sustainability Rating 2024

City Bank has been ranked first in the Sustainability Rating 2024 by Bangladesh Bank, securing the top position among the country's leading sustainable banks. This is the fifth consecutive year the bank has been listed among the Top 10 sustainable banks, while this year marks the first official announcement of the ranking by the central bank.

Bangladesh Bank Governor Dr Ahsan H. Mansur handed over the crest and certificate to Mashrur Arefin, Managing Director & CEO of City Bank, at an event held on 20 August at the central bank. Deputy Governor Nurun Nahar and other central bank officials were also present at the event.

Bangladesh Bank prepares the sustainability rating based on two broad perspectives: financial sustainability—assessed through indicators such as capital adequacy, liquidity, asset quality, profitability, cost efficiency, customer accessibility and governance standards; and environmental sustainability-measured through performance in sustainable finance, green finance and CSR initiatives.

Mashrur Arefin, MD and CEO of City Bank 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 added that the Board has tasked the management to develop City Bank into a financial entity "that serves the entire population as a fintech company with a banking licence," and concluded, "We are steadily progressing towards that vision."