Bank name and backgroundFull
name and date of establishment: City Bank, founded in 1983.
Headquarters location: Dhaka, Bangladesh.
Shareholder Background: City Bank is a private commercial bank that was originally co-founded by a group of local Bangladeshi entrepreneurs. The bank is not listed, and its shareholders are mainly local private capital, so its operational strategy is more focused on the local market demand. As a commercial bank, City Bank mainly serves small and medium-sized enterprises as well as individual customers, and enjoys a high reputation in Bangladesh and abroad.
Coverage Areas: City Bank primarily operates in Bangladesh, but also provides cross-border banking services. The bank has a small international presence in the Middle East and some Asian countries, especially in areas where there is a lot of trade with Bangladesh.
Number of offline outlets and ATM distribution: City Bank has an extensive network covering Bangladesh, with more than 100 branches, as well as a large number of ATMs in major cities and business districts. With digital transformation, banks have gradually increased the reach of their self-service banking services.
Regulatory & Compliance
Regulator: City Bank is regulated by the Central Bank of Bangladesh and follows the Bangladesh National Financial Services Regulatory Framework.
Deposit Insurance Scheme: As a legally registered financial institution, the bank participates in the deposit insurance scheme in Bangladesh to provide deposit protection to its customers.
Recent Compliance Record: City Bank has been praised by regulators for its excellent compliance performance and consistent compliance with Anti-Money Laundering (AML) and Customer Due Diligence (CDD) regulations, as well as the absence of major compliance issues.
Financial Health
: City Bank's capital adequacy ratio is maintained at the upper reaches of the industry, in line with the requirements of the Central Bank of Bangladesh and exceeding the standards of most similar banks, showing strong financial stability.
Non-performing loan ratio: Banks have a low non-performing loan ratio, reflecting better loan quality management and risk control capabilities. Despite the economic volatility of the Bangladesh market, City Bank has effectively maintained the proportion of non-performing loans through prudent post-loan management.
Liquidity Coverage Ratio: The bank's strong liquidity coverage ratio ensures that the bank maintains sufficient liquidity in the face of market stress.
Deposit & Loan ProductsDeposit
Class
demand deposit interest rate: City Bank provides flexible demand deposit accounts with moderate interest rates, which are suitable for customers to make daily deposits and withdrawals.
Fixed Deposit Rates: The bank's fixed deposit rates are competitive among local banks and have different interest rates depending on the deposit amount and tenor.
Featured Deposit Products: In addition, City Bank has launched a high-yield savings account and a large certificate of deposit (CD) product, which are designed for high-net-worth customers and high-value depositors, offering higher rates of return.
Loans
mortgages: City Bank's mortgage products have reasonable interest rates and flexible repayment terms. The loan qualification review is strict, and the bank pays attention to the borrower's repayment ability and credit history.
Car loans: Car loan products have low interest rates and flexible repayment plans, making them suitable for different income groups.
Personal Line of Credit: The bank also offers personal lines of credit with reasonable interest rates and relatively lenient borrowing terms, suitable for different levels of consumer needs.
Flexible repayment options: Loan products often offer flexible repayment options, including early repayment and deferred repayment, to ensure the customer's ability to repay.
List of common fees
Account management fees: Some accounts charge a relatively low monthly or annual fee, depending on the account type and frequency of transactions.
Transfer fees: City Bank has lower fees for domestic transfers and higher fees for cross-border transfers, especially when sending money to other countries.
Overdraft Fee and ATM Interbank Withdrawal Fee: Overdraft and ATM Interbank Withdrawal Fee are in line with market levels, but please note that additional fees may be incurred if the account does not reach the minimum balance.
Hidden Fees: For some accounts, City Bank has set a minimum balance limit, and account maintenance fees will be incurred if the target is not met.
Digital Service Experience
App & Online Banking
User Ratings: City Bank's app has high ratings on the App Store and Google Play, and user feedback is positive. The APP interface is simple and fully functional, suitable for users of different ages and needs.
Core functions: APP and online banking support basic functions such as real-time transfer, bill payment, account inquiry, etc., and can be used for asset management and financial planning.
Technological innovation: Banks are gradually introducing AI customer service and robo-advisors to optimize customer experience. At the same time, City Bank is also exploring the integration of open banking APIs, and is committed to improving the innovation and flexibility of digital banking services.
Customer Service Quality
Service Channels: City Bank offers 24-hour phone support and live chat, and responds quickly on social media. Banks serve their customers through multiple channels, ensuring that customers can get help at any time.
Complaint handling: The bank's complaint rate is relatively low, complaint handling efficiency is high, and the average resolution time is short.
Multi-language support: City Bank offers services in Bengali and English, which caters to the needs of local customers and some international customers. The bank's cross-border business is still expanding, and more languages may be added in the future.
Security MeasuresFunds
Protection: City Bank provides deposit insurance protection to its customers and is equipped with advanced anti-fraud technology to ensure that every transaction is monitored in real-time to prevent fraud.
Data security: The bank is committed to ensuring the security of customer data and implements strict data protection measures. Although it is not yet ISO 27001 certified, its information security system is widely recognized in the industry.
Featured Services & Differentiated
Segments
Student Accounts: City Bank offers fee-free accounts for students to help young people better manage their finances.
Exclusive financial management for the elderly: Exclusive financial management services for elderly customers, including customized wealth management products and investment plans, to help them protect their retirement funds.
Green financial products (ESG investment): Banks have launched a number of green financial products that focus on environmental protection and sustainable development projects, attracting customers who are interested in socially responsible investment.
High Net Worth Services: City Bank provides private banking services for high-net-worth clients, providing exclusive wealth management, asset allocation and customized wealth management solutions to meet the complex needs of high-net-worth clients.
Market Position &
Honors: City Bank is a leader in Bangladesh's banking industry, and although it is not among the top 50 banks in the world, it maintains a high ranking in the local market for both asset size and service quality.
Awards: City Bank has received multiple industry awards, including "Best Digital Bank" and "Customer Satisfaction Award" in recognition of its outstanding performance in innovation and customer service.
