ADB felicitates City Bank as 'leading part bank in Bangladesh'
The award was presented in a virtual ceremony on October, said a news release.
Over 200 partner bank representatives attended the ceremony where 25 banks were recognized in 20 categories, it read, adding that the awards were predicated on collaboration with ADB for the period from July 2019 to June 2020.
During this time period, City Bank has been the most active partner bank from Bangladesh, covering trade transactions of both small and large deals for corporates and SMEs, the release adds.
This past year, City Bank also won 'Momentum Award' for highest growth in transactions partnered with ADB, it said.
With support from ADB under TSCFP, City Bank have been able to engage with major international banks to avail extended trade lines and financing opportunities, the news release informed.
City Bank can be partnered with other development financial institutions like International Finance Corporation, Islamic Development Bank Group, OeEB (The Development Bank of Austria), Norfund (Norway), FMO (Netherlands), etc.
Through this comprehensive network, City Bank arranges guarantees against its trade deals and direct funding to aid the transactions, extending its reach and capabilities, it says.
Source: https://www.dhakatribune.com
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