City Bank Wins ADB’s Award for the 4th time
City
Bank has been awarded the ‘Leading Partner Bank in Bangladesh’ in Trade and
Supply Chain Finance Program (TSCFP) Awards 2022 by Asian Development Bank
(ADB). This is for the 3rd consecutive year the bank has won it. Prior
to that, in 2019, the bank won the ‘Momentum Award’ for achieving the highest
growth in transactions partnered with ADB.
ADB announced
the winners of the year 2022 with a presence of 150 partner bank
representatives at a ceremony held in Singapore recently where Hasan Sharif
Ahmed, Executive Vice President and Head of Financial Institutions of City Bank
received the award from Steven Beck, Head of Trade and Supply Chain Finance,
Asian Development Bank.
This
prestigious award was conferred in recognition of highest number of
transactions recorded in Bangladesh collaborating with ADB for the period July
01, 2021 to June 30, 2022. In this period, City Bank has collaborated with ADB
for coverage of trade transactions of small and large deals for corporate and
SME clients.
City Bank has
been participating with ADB under their TSCFP program as Issuing Bank since
2016. ADB under their TSCFP program provides guarantees and trade loans to
partner banks supporting international trade. The TSCFP works with over 240
banks in ADB's developing member countries in Asia and the Pacific. In
Bangladesh total 16 banks are members of ADB under this program.
This year
City Bank also won ‘The Best Issuing Bank in South Asia’ award by IFC under
their Global Trade Finance Program. The bank has also partnered with other DFIs
like Islamic Development Bank Group, OeEB (The Development Bank of Austria),
BII (British International Investment), Norfund (Norway), FMO (Netherlands),
etc. Through this extensive network, it arranges guarantees against its trade
deals and direct funding to support the transactions, extending its reach and
capabilities.