A viable growth that matters

Banks need to continuously evolve and come up with innovation and renovation at the same time. Without this mix and match, it will be fairly difficult for Banks to survive and sustain in coming days. There are abundant classical banking products nonetheless these days what matters is a tailored packaging so that, different markets can be lured and catered accordingly.

The City Bank Ltd has been always a frontrunner when it comes to enticing product and service packaging. City Bank has been successful in blending process optimization, process simplification and bringing in up-to-the-minute technology. This Bank encourages service overhauling not only to retain existing Customers but also to tap into the untapped markets.

Since 2019, City Bank has been a top gun in outfitting working capital finance for both local and multinational conglomerates across the country. According to its 1,000+ subscribed Distributors of 15 different local and multinational companies, City Bank has done exceedingly well to live up-to the expectation. With a prudently crafted service and product design, City Bank has been able to blend business approach, highly optimized process and technology driven solution to offer better to its borrowers.

City Bank according to its Partners, have been tested meticulously during the extreme time of need. During the pandemic first phase peak, City Bank Distributor and Retailer Finance Business Unit had kept extending its endless support to its subscribed Distributors by offering a 24/7 transactional support to maintain product and service distribution at National level. The swiftness and ease of sanctioning  process, network infrastructure throughout various corners of Bangladesh and sensibly designed technology have complemented and cemented its position as one of the most sorted after product and service in the Banking industry.

City Bank Distributor Finance Business Unit has disbursed invoices worth of tk 500 Crore in 2020 despite the downfall of business across industries from April to June due to the Covid-19 mayhem. This fund injection helped Distributors, Retailers and various Organizations to fuel and propel their business from multiple facets. According to the Distributors, Retailers and Corporate Partners, City Bank has been effective in establishing the fact that price cannot be the one and only factor that comes ahead of a well-shaped product and service. City Bank Distributor Finance Business Unit wishes to continue its endeavors by coming up with many more 'good to have' features to add further value to the product in days to come. This Unit has made its mark by ensuring a viable and unswerving growth despite all odds.

Progressive businesses are not only concerned about provid- ing the best products/services to their consumers, but also about strengthening the value chain for sustainable progress. Since February of this year, The City Bank Limited has been provid- ing working capital financing to bKash's distributors. Distribution is a key element to the business of bKash and with such financing, it not only facilitates the business of the distributors but also ensures better services for the customers thus enabling financial inclusion in Bangladesh. I am glad that The City Bank Limited, one of the most prominent banks in Bangladesh, is our partner in this venture to strengthen our distributors' finance.

Following the signing of this partnership, bKash started its distributor finance program as a pilot project with just 5 distribu- tors. Since then, 31 distributors have already on boarded the program till November 2020 and are enjoying short term finance. Up to December 2020, the Bank has disbursed BDT 92.46 crore to support the distributors' finance. Similar to other products, this initiative has been a "first" with The City Bank Limited and has brought significant value to the business. My gratitude to The City Bank Limited for this partnership and I look forward to its growth in the coming days.

Kamal Quadir
Chief Executive Officer
bKash

It is my pleasure to see this busi- ness unit under small & microfi- nance business division reaching for the sky with an unremitting month over month growth.

I would like to instill confidence and assurance to all of our exist- ing and prospective corporate partners to give us the opportu- nity to cater to their distributor's needs across various corners of the country.

Mashrur Arefin
Managing Director & Chief Executive Officer
The City Bank Ltd

The city bank ltd has been con- tinuously going through product innovation and renovation to offer befitting product variants to different market segments. Since 2019, we have had the privilege  of working with many local and MNCs and their distributors. We have not only evolved as a settled market player but also have ce- mented our position as a reliable player to offer an all-inclusive solution to cater the working capi- tal requirements of distributors all across Bangladesh.

With the inspiration of our valued corporate clients and distributor partners, we pledge to go beyond. in days to come.

Kamrul Mehedi
Head of Small & Microfinance
Business Division
The City Bank Ltd

Distributor finance is an innova- tive type of finance and as far as my knowledge goes, the city bank ltd is the only commercial bank which is actively promoting this finance to distributors in the na- tion. We are proud to be a partner in this scheme.

Uzma Chowdhury
Director, Finance
Pran RFL Group

Agri industry is a credit driven industry. This 'Syngenta and city bank distributor financing program' is completely a new concept in this industry. With this initiative, Syngenta Bangladesh is aiming to empower our chan- nel partners with more options and financial solutions, which is positively contributing to their business growth and making impact on overall socio-economic activities.

I would sincerely thank city bank for choosing Syngenta Bangla- desh as their trusted partner and have extended their support with this bold and timely initiative.

A M M Golam Towhid
Chief Executive Officer
The Syngenta Bangladesh 

Being into automotive business, finance is a very strong support function for our customers. We, at Uttara Motors are getting a very excellent support for our retail finance. This kind of finance propels and accelerates the overall business and helps us to maintain our position as #1 dealer in Bangladesh. We are extremely thankful to city bank for their unending support to us.

Dileep Banerjee
Chief Executive Officer
Uttara Motors Ltd

This is a great move by city bank for extending distributor finance in the development of two wheel- er business sector of Bangladesh. Worldwide retail and distributor finance supported this industry to grow and city bank has opened this window. Still, it is in its initial stage and we hope they will come up very aggressively in coming days.

From TVS auto Bangladesh, i would like to thank city bank for their support.

Biplob Kumar Roy
Chief Executive Officer
TVS Autos Bangladesh

Extending our thanks to city bank for fueling working capital finance to our valued dis- tributors. This working capital assistance will help our valued distributors to capitalize on the business opportunities in days to come. I believe city bank will keep serving up to our expecta- tion. I wish very best of luck to their endeavors.

Syed Alamgir
Managing Director
ACI Consumer Brands Ltd

The distributor finance scheme by the city bank is a dynamic and futuristic product. We found it very helpful for our new channel partner development pro- gramme. The support by the city bank team during the pandemic year was noteworthy.

Ashraf Bin Taj
Managing Director
International Distribution Company (Pvt.) Ltd.

Distributors work as arteries for our business. If they underper- form, we develop blocks in our business. In this context, having city bank providing financing support to our distributors helps them perform to their full capac- ity.

Mahtab Uddin Ahmed
Managing Director & Chief Executive Officer
Robi Axiata Ltd    

Working capital finance by city bank to our valued distributors added a huge mileage for our business. I wish very best of luck to their endeavor.

Jyotish Mandal
FCA General Manager
Transcom Beverages Ltd

I am delighted to see this business initiative leaving its mark of suc- cess. Even though our distributor finance needs to travel miles, but the impact and buzz it has created is commendable. Our initiative will set a new market standard and entice others to join in to develop the industry as a whole.

I wish our distributor finance unit a very best of luck in days to come and also wish them to reach a far and beyond expectation.

Sheikh Mohammad Maroof
Additional Managing Director
The City Bank Ltd

Square toiletries has started using "distributor finance program" offered by the city bank for some of its distributors from quarter 3, 2020.  We found the distributors financed under this scheme have a better visibility of their cash flow & fund management, which enables them to optimize their product mix, manage cash flow & individual profitability. On company side, demand & supply at retail end are more reflective & addressable. Distributors are also feeling comfortable as this web / app based application is easy to use irrespective of their orientation & exposure on financial tools. It wil be much more comprehensive & beneficiary for the overall industry if the city bank could gradually complete the eco system by connecting retailers , suppliers & the company with same orientation.

Malik M Sayeed
Director & Head of Operations
Square Toiletries Ltd