Mashrur Arefin, Managing Director of City Bank, is a well-known and popular figure in the corporate banking sector of the country. He is not only the top official of one of the country’s leading banks but also a popular name in the literary arena. His work in contemporary literature has created a new trend in contemporary Bengali fiction.
On the other hand, he has seen glimpses of well-planned leadership in the leadership and management of one of the country’s best banks, City Bank.
After completing his MBA in Melbourne, Australia in 1995, Mr Mashrur Arefin started his career as a management trainee in ANZ Grindlays Bank, Australia. Continuing the streak of success as usual, Mr Arefin was appointed as the Bank’s Head of Consumer Finance, Bangladesh within a short period of time. He later joined Standard Bank, Qatar. He was also working as a director of American Express Bank. Further, he was also in City Bank N.A. Later, Mr Mashrur Arefin was working in Eastern Bank as the head of consumer banking.
Mr Arefin took up a new challenge in the career of Citibank as Head of Retail Banking in 2007. After that, he served as Chief Communication Officer and Chief Operating Officer of the bank.
He was appointed as the Chief Executive Officer and Managing Director of City Bank Bangladesh Limited in 2019 on the merit of his skills and talent.
This leading banker of the country in the national and international arena has shown his individuality in every field. He has taken his dynamic personality and sharp banking talent to unique heights in City Bank as well.
Mr Mashrur Arefin contributed greatly to modern banking, ensuring remittance flow, modernization of technology and management, and above all, raising banking management to international standards.
He took City bank to different heights in the three years of the previous term before taking charge as the Managing Director and Chief Executive Officer of City Bank in the new term this year. During this period, the bank’s;s annual income increased by 35 percent to exceed Tk 2,000 crore and operating profit increased by 61 percent to enter the Tk 1,000 crore profit club. This achievement is a unique precedent in the banking sector
At the same time, the bank’s income-to-expense ratio fell from 59% to 50.5% over the past three years, and foreign trade rose from $3.6 billion to $6.6 billion annually. Under his leadership, City Bank is moving forward from a city-based bank to become a people’s bank with the financial inclusion agenda in mind. He introduced digital nano loans and traditional micro and macro finance to the bank. Which is taking the country’s banking sector to the grassroots level in the era of digital microcredit. Through Trinamool Digital Banking, he is guiding the country's banking sector towards a holistically inclusive economy.
In this context, Mr Mashrur Arefin said, “We have added agent banking services to small and micro loans. As a result, agents have given loans of Tk 236 crore to 2 thousand 143 customers in the last one year. Agents are now a big attraction for common people. This is because many people in the country are doing something. Some are rearing poultry, while some are running shops or small businesses. They need loans. Many people want to keep money in trusted institutions. In that case, depositing money with the agents. Again, customers are getting loans and repaying them. The big thing is that people are now getting these services right next to their homes. So there is good growth in services. Agent banking deposits cost less. As a result we will get a huge profit. While the cost is 5.5% in other deposits, it is 2.5% in agent banking. 1% less cost means huge profit. So all banks including us are emphasizing on this.”
At the same time, following his plans, City Bank is going to launch its assisted model. As a result, an agent bank account can be opened instantly with someone's help. If this system is introduced, growth in agent banking services will increase.
Mr Arefin is also implementing plans for agent banking services through Telecom and major FMCGs. As a result, overall agent banking will become easier.
In this context, he said, “We have a plan to bring major changes in the transaction system with agents. “At Agent Points we are providing QR Code and Point of Sales (POS) devices. We are bringing credit card services through agents. Debit card is given on account opening. As a result, the use of cash will decrease and the use of cards will increase in villages. Small transactions will also be done digitally. In this way, one day digital transactions will increase a lot. Agents will be the changemakers in the transaction system. The way small transactions are done through digital means in Chinese villages, one day it will happen in Bangladesh too.”