City Bank
City Bank PLC is a Bangladeshi private commercial bank serving retail, corporate, SME, digital, card, investment and Islamic-banking customers.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
City Bank PLC is a first-generation private commercial bank in Bangladesh, headquartered in Dhaka. Founded in 1983 as The City Bank Limited, it was established by a group of 12 Bangladeshi businesspeople led by Deen Mohammad, founder and chairman of Phoenix Group. The bank began operations with its first branch at B. B. Avenue in Dhaka and has developed into a diversified financial-services institution serving individuals, businesses, corporations and institutional clients. Its principal activities span retail banking, corporate and investment finance, SME and agricultural finance, treasury and trade services, digital banking, asset management, equity brokerage, securities services and Islamic banking. The institution operates a real-time online banking network across Bangladesh, including conventional branches, sub-branches and specialized SME or agricultural outlets. It also has a presence in payment cards: the bank issues Visa and Mastercard debit and credit cards and is the exclusive American Express card licensee in Bangladesh. The American Express relationship has been one of the most distinctive elements of its consumer proposition, alongside premium banking and digital services. A significant repositioning took place around the bank’s twenty-fifth anniversary in 2008. City Bank introduced a new visual identity, simplified its public name from The City Bank Limited to City Bank PLC, launched American Express credit cards, expanded into brokerage and introduced City Wallet SMS banking. Its red-and-white checkered box-kite logo became a visible marker of the refreshed brand. Subsequent development emphasized digital delivery, premium banking, remittances, SME finance, sustainable finance and broader financial inclusion. City Bank has also pursued regional activity. In 2013 it established branches and a representative office in Malaysia, and in 2019 it opened a subsidiary office in Hong Kong. The bank has used international partnerships and development-finance relationships to support growth: the International Finance Corporation acquired a 5% stake in 2016, while CDC Group provided a US$30 million loan in 2021. The bank has additionally participated in corporate financing, including a US$26 million fund-raising transaction for Doreen Power in 2017. In Bangladesh, City Bank’s service portfolio includes current and savings accounts, consumer lending, cards, payments, remittances, corporate credit, trade finance, supply-chain finance, SME loans, investment banking and securities-related services. Its digital agenda has included SMS banking, consumer digital banking, digital lending and City Remit. The bank opened a full-fledged Islami Banking branch and later developed Islamic banking offerings for customers seeking Shariah-compliant services. In 2020 it became the third Bangladeshi bank to offer UnionPay debit cards. City Bank has received recognition from international banking and finance publications and industry bodies for retail banking, digital banking, premium services, sustainable finance, Islamic finance, trade finance, corporate responsibility and innovation. In 2024, following Bangladesh’s revised offshore-banking framework, it became the first bank in the country reported to have received foreign-currency deposits through offshore-banking products. The bank therefore combines a domestic universal-banking model with selected international operations, card partnerships and capital-market capabilities.
History
City Bank began operations on 28 March 1983 as The City Bank Limited, making it one of Bangladesh’s earliest private commercial banks. Twelve local businesspeople established the institution, with Deen Mohammad, associated with Phoenix Group, identified as its founder. The first branch opened at B. B. Avenue in Dhaka. From this initial base, the bank developed a nationwide commercial-banking network and broadened its activities beyond conventional deposits and lending. The bank’s early history was shaped by Bangladesh’s emerging private-banking sector. It subsequently became a listed company, joining the Dhaka Stock Exchange in 1986 and the Chittagong Stock Exchange in 1995. Over time, its business expanded to include retail and corporate banking, SME and agricultural finance, trade services, treasury operations and capital-market activities. A major brand and business transformation occurred in 2008, the institution’s twenty-fifth anniversary. The bank adopted the shorter City Bank identity, introduced the red-and-white checkered box-kite logo, launched American Express credit cards and entered brokerage. It also introduced City Wallet, an SMS-based banking service. These changes signaled an effort to combine traditional branch banking with modern payment products and electronic delivery. The bank later developed a broader financial-services platform. It added or expanded premium banking, digital banking, remittance services, digital lending, asset management, equity brokerage, securities services and Islamic banking. Its card portfolio includes Visa and Mastercard products, while City Bank holds the sole American Express card license in Bangladesh. In 2020, it added UnionPay debit cards, further widening its international payment-network relationships. City Bank pursued regional expansion during the 2010s. It established 10 branches and a representative office in Malaysia in 2013, followed by a subsidiary office in Hong Kong in 2019. The institution also attracted development-finance participation. The International Finance Corporation acquired a 5% stake through a BDT 1.31 billion investment in 2016. In 2021, CDC Group extended a US$30 million loan. The bank also arranged a US$26 million fund-raising transaction in 2017 for Doreen Power’s planned power plant in Munshiganj District. In the early 2020s, City Bank emphasized digital services, SME finance, sustainable finance, trade finance, premium banking and Islamic banking. It received awards from organizations including Global Finance, FinanceAsia, Asiamoney, Asian Banker-related programs, the Asian Development Bank and other industry bodies. Recognition covered digital banking, retail banking, premium services, sustainable and Islamic finance, corporate responsibility, innovation and trade finance. In 2024, regulatory changes created an opportunity for offshore banking. City Bank reported that it accumulated nearly US$21 million in offshore deposits within two months of the new framework and became the first Bangladeshi bank reported to have received foreign-currency deposits through offshore-banking products. The bank remains an active Bangladeshi private commercial bank with a diversified domestic franchise and selected cross-border operations.
- 2024
Offshore banking deposits
[1]The bank develops offshore foreign-currency deposits following Bangladesh’s revised offshore-banking framework.
- 2021
CDC Group loan
[1]CDC Group provides the bank with a US$30 million loan.
- 2020
UnionPay debit-card launch
[1]City Bank begins offering UnionPay debit cards in Bangladesh.
- 2019
Hong Kong presence
[1]The bank establishes a subsidiary office in Hong Kong.
- 2016
IFC investment
[1]The International Finance Corporation invests BDT 1.31 billion for a 5% stake.
- 2013
Malaysia expansion
[1]City Bank establishes 10 Malaysian branches and one representative office.
- 2008
Brand and service transformation
[1]The bank adopts the City Bank name, launches a new logo, American Express credit cards, brokerage services and City Wallet SMS banking.
- 1995
Chittagong Stock Exchange listing
[1]The bank is listed on the Chittagong Stock Exchange.
- 1986
Dhaka Stock Exchange listing
[1]The bank is listed on the Dhaka Stock Exchange.
- 1983
Operations begin
[1]The City Bank Limited begins operations on 28 March with its first branch at B. B. Avenue in Dhaka.
Products and positioning
A technology-oriented Bangladeshi private commercial bank combining mass retail banking with premium services, cards, corporate and SME finance, capital-market capabilities, Islamic banking and selected international operations.
Payment cards · 2008
American Express cards
City Bank is the sole licensee of American Express cards in Bangladesh. The portfolio forms a distinctive part of its consumer and premium-banking proposition, alongside the bank’s Visa and Mastercard debit and credit cards.
Digital banking · 2008
City Wallet
City Wallet is the bank’s SMS-banking service, introduced during the 2008 brand transformation. It represents an early effort to provide customers with account and banking functionality through mobile communications rather than relying exclusively on branches.
Remittance
City Remit
City Remit is a remittance-focused service associated with the bank’s digital and financial-inclusion agenda. It was recognized for innovation in banking in 2023.
Payment cards · 2020
UnionPay debit cards
UnionPay debit cards broaden City Bank’s international card-network offering. The bank introduced the product in 2020 and was described as the third bank in Bangladesh to provide UnionPay debit cards.
Digital banking
Digital lending
City Bank’s digital-lending activity is part of its wider consumer digital-banking strategy. The bank has received recognition for digital-loan innovation and consumer digital banking.
Islamic banking
Islamic banking
The bank operates a full-fledged Islami Banking branch and offers Islamic-banking services within its broader commercial-banking platform. The business has received recognition for Islamic SME banking and Islamic banking windows.
Offshore banking · 2024
Offshore Banking products
City Bank’s offshore-banking products accept foreign-currency deposits under Bangladesh’s revised offshore-banking framework. The bank reported rapid initial deposit growth after the framework was introduced in 2024.
Marketing campaigns
- 2008Twenty-fifth anniversary brand transformation
Bangladesh
City Bank used its twenty-fifth anniversary to refresh its visual identity and broaden its service proposition through a new logo, American Express cards, brokerage and City Wallet SMS banking.
Outcome. The initiative established the modern City Bank identity and linked the brand to cards, digital access and diversified financial services.
Brand decisions
2024
Develop offshore bankingStrategyBackground
Bangladesh’s revised offshore-banking law created a new framework for foreign-currency deposit-taking.
Action taken
City Bank launched offshore-banking activity and accumulated nearly US$21 million in deposits within two months.
Aftermath
The bank was reported as the first in Bangladesh to receive foreign-currency deposits through offshore-banking products.
Offshore deposits. Nearly US$21 million (Within two months after the March 2024 offshore-banking law)
2020
Launch UnionPay debit cardsProduct launchBackground
City Bank continued to expand the range of international payment networks available to Bangladeshi customers.
Action taken
It began offering UnionPay debit cards.
Aftermath
The product added UnionPay to the bank’s existing card-network relationships.
2016
Accept IFC strategic investmentM&ABackground
The bank attracted participation from an international development-finance institution.
Action taken
The International Finance Corporation invested BDT 1.31 billion for a 5% shareholding.
Aftermath
The investment added an international institutional shareholder to City Bank’s ownership structure.
Investment for 5% shareholding. BDT 1.31 billion (February 2016)
2013
Expand into MalaysiaStrategyBackground
City Bank sought to extend its operating reach beyond Bangladesh.
Action taken
The bank established 10 branches and one representative office in Malaysia.
Aftermath
Malaysia became a component of the bank’s regional operating footprint.
2008
Adopt the City Bank identity and diversify servicesStrategyBackground
The bank used its twenty-fifth anniversary as an opportunity to modernize its brand and expand beyond conventional branch banking.
Action taken
It simplified its name, introduced a new logo, launched American Express credit cards, entered brokerage and added City Wallet SMS banking.
Aftermath
The changes positioned City Bank as a broader retail and financial-services brand with stronger digital and card capabilities.
Recent events
City Bank launches City Ekhoni App[2]
City Bank launched the City Ekhoni App, enabling customers to open accounts remotely in real time through a mobile app.
- Unconfirmed
City Bank donates $150,000 to South Plains Food Bank[3]
Reported:
City Bank presented a check providing $30,000 immediately and a total of $150,000 over five years to South Plains Food Bank.
Sources3 sources
Cite this profile: Cite the canonical profile. /brand-wiki/city-bank · Editorial policy · How profiles are compiled