Mashrur Arefin
Managing Director & CEO
City Bank
 

The Daily Star (TDS): Could you provide an overview of the current savings situation at your bank?

Mashrur Arefin (MA): At City Bank, we have always viewed savings not just as deposits but as trust placed in us by our customers. Despite the challenges in the banking sector, our savings portfolio has shown resilience. Our savings base reflects a balanced contribution from salaried individuals, professionals, small businesses, women, and the youth segment.

With a growing emphasis on financial inclusion and digital banking, our savings mobilisation continues to remain a cornerstone of our retail liability strategy. This growth underscores our commitment to financial inclusion and our role in fostering a savings culture across Bangladesh.

TDS: What are the top savings schemes that you are currently offering?

MA: City Bank has always prioritised customer needs and interests, offering a wide array of savings products tailored to meet varying financial aspirations. Our City Alo Savings Account is designed for women, empowering them through exclusive benefits, while the Student Savings Account encourages young minds to develop early saving habits. We offer a Shariah-compliant City Islamic Savings Account for customers seeking Islamic banking solutions, and a Freelancer Savings Account for independent professionals. Our Green Savings Account rewards environmentally responsible behaviours, alongside our Goal-Based DPS promoting disciplined financial planning.

TDS: What initiatives have your bank taken to encourage savings habits among the general people?

MA: Promoting a savings culture requires outreach and education. Through financial literacy programmes and our partnership with bKash, we are reaching the unbanked. Our City Alo initiative also empowers women by providing financial tools, knowledge, and accessible savings options across communities.

TDS: What innovative steps have been implemented to make savings products more convenient and accessible for all kinds of customers?

MA: Innovation is not just a function—it is our philosophy at City Bank. Through our Citytouch app, customers can transfer funds, manage finances, and access numerous value-added services seamlessly. Our Ekhoni Account App extends this further, enabling instant account opening with just a National ID and a selfie, ensuring convenience and promoting financial inclusion. Our collaboration with bKash facilitates instant nano-loans and Islamic DPS, bringing banking to millions. Meanwhile, our expanding Agent Banking network in rural and semi-urban areas is providing savings services, account opening facilities, and financial literacy support, effectively bridging the urban-rural divide.

TDS: What are your future plans regarding the enhancement and expansion of savings products?

MA: Looking ahead, our vision is clear: to be the people's bank. Our plans are centred on building a savings ecosystem that serves every segment of society—regardless of their location, income level, or lifestyle. We are actively scaling our presence through traditional branches, sub-branches, and an ever-growing agent banking network that is reaching deep into rural and semi-urban areas.

These physical touchpoints are crucial in bridging the gap for the unbanked and underserved. Looking ahead, City Bank is committed to making savings a right accessible to all, not a privilege for a few. We are investing in infrastructure, technology, and trust to achieve this vision. Just as mobile financial services revolutionised transactions, we aim to redefine how people save—making it easier, smarter, and more accessible—bringing the full power of banking into the palm of every hand.