Mashrur Arefin, the Managing Director and CEO of City Bank PLC, has been awarded the prestigious title of ‘CEO of the Year 2025’ in the Financial Institutions category at the 4th Bangladesh C-Suite Awards, according to a recent press release. This esteemed accolade recognises Arefin’s exceptional leadership in driving growth and innovation in the financial sector of Bangladesh over the last three decades.
Arefin’s contributions to the country’s financial landscape have been nothing short of remarkable. With over 30 years of experience, his leadership has set new benchmarks for excellence in the banking industry. Under his direction, City Bank has flourished, becoming one of the top performers in the financial sector.
The Bangladesh C-Suite Awards, organised by the Bangladesh Brand Forum, is known for celebrating business leaders who demonstrate not just outstanding leadership but also a commitment to integrity, innovation, and excellence. Previous winners from the financial institutions sector include notable names such as Ali Reza Iftekhar from Eastern Bank Ltd (EBL), Syed Mahbubur Rahman of Mutual Trust Bank Ltd (MTBL), and Kamal Qadir, CEO of bKash.
Under Arefin’s dynamic leadership, City Bank has seen remarkable improvements across multiple financial metrics. The bank’s operating profit soared from BDT 699 crore in 2018 to a staggering BDT 2,351 crore in 2024. Similarly, the net profit jumped from BDT 202 crore to BDT 1,085 crore. The Return on Equity (ROE) also witnessed a significant increase, rising from 8.2% to 26.1%, and the total capital of the bank more than doubled during this period. These figures are a testament to Arefin’s strategic acumen and his ability to steer City Bank through a period of substantial growth and transformation.
Additionally, City Bank’s commitment to sustainability has been recognised by Bangladesh Bank, which named it the #1 Sustainable Bank of 2024 for its exceptional governance practices, green financing initiatives, and operational excellence. The bank has integrated sustainability into its core operations, positioning itself as a leader in responsible banking.
Another cornerstone of Arefin’s leadership has been his drive for digital transformation. Under his guidance, City Bank has invested heavily in technology and innovation, leading to the successful expansion of Citytouch, the bank’s digital banking platform. One of the most notable initiatives launched under his leadership is the Digital Nano Loan, which has reshaped financial inclusion in Bangladesh by providing affordable and accessible credit to millions of previously underserved individuals.
Beyond his professional achievements, Arefin is also an accomplished novelist, poet, and translator, with several literary awards to his name. His passion for literature and his contributions to the arts reflect his multifaceted personality and his commitment to both business and culture.
In addition to his role as CEO of City Bank, Arefin holds several influential positions. He serves as the Chairman of the Association of Bankers, Bangladesh (ABB), the Chairperson of SWIFT Bangladesh, and is a Board Director of Biman Bangladesh Airlines. His leadership in these positions further demonstrates his vast influence in the business and financial communities.
The Bangladesh C-Suite Awards are a prestigious platform to recognise and celebrate business leaders who exemplify the highest standards of professionalism, innovation, and ethical leadership in their respective fields. Arefin’s recognition at this year’s awards highlights the significant impact he has made in shaping the future of Bangladesh’s banking sector.