City Bank to launch Mastercard payment services
Friday, 14 May 2010
FE Report
Leading local financier City Bank Limited opened its 88th online branch at the capital's Banani residential area Thursday to tap into the growing retail banking need in one of Dhaka's major posh areas.
The state-of-the-art branch office situated at Banani Road 11 area of the city, is strategically located in the vicinity of a flourishing trade and retailing hub surrounded by a number of restaurants, hotels and shopping centers- the Bank officials said.
"Through this advantageous location, we wish to serve the local residents better as the trendy area of the city offers huge untapped market for retail banking services", City Bank Chairman Aziz Al Kaiser said on the eve of inauguration.
Through the new branch, City Bank has gone one step further among the big names in the local financial sector who have targeted the uptown areas of the capital for the next wave of growth for the retail banking segment. A number of major banks; both local and multinational have opened their branches in the Gulshan and Banani area of the capital in recent years as these two major posh areas of the city has become dotted with bank branches in recent years.
Speaking on the occasion, the City Bank CEO and Managing Director K Mahmood Sattar highlighted on his bank's current market scenario while also unveiling its future business plan. "In the future, City Bank hopes to rollout more innovative products to its customers through technologically advanced solutions and more modern and developed services", Sattar said.
"Soon, we are going to launch world renowned Mastercard payment services as well as American Express Corporate Card to our customers while the network of our Islamic banking services is also going to be expanded", he added.
The City Bank officials said that they are aiming to consolidate the market for credit and debit card through the introduction of Mastercard services as it is aiming for number one position in the arena.
The local bank is already offering a range of dual currency credit card and other payment services through the world-renowned brand American Express and Visa.
"Currently we have more than one hundred thousand card subscribers which makes us a major player in this grooming arena, but our ultimate aim is to grab the number one position within two years", City Bank Head of Retail Banking Mashrur Arefin told FE.
Industry insiders estimate that the country currently has around 600 thousand subscribers of debit and credit card. The biggest player in the segment reportedly has a 35 to 40 per cent market share.
Leading local financier City Bank Limited opened its 88th online branch at the capital's Banani residential area Thursday to tap into the growing retail banking need in one of Dhaka's major posh areas.
The state-of-the-art branch office situated at Banani Road 11 area of the city, is strategically located in the vicinity of a flourishing trade and retailing hub surrounded by a number of restaurants, hotels and shopping centers- the Bank officials said.
"Through this advantageous location, we wish to serve the local residents better as the trendy area of the city offers huge untapped market for retail banking services", City Bank Chairman Aziz Al Kaiser said on the eve of inauguration.
Through the new branch, City Bank has gone one step further among the big names in the local financial sector who have targeted the uptown areas of the capital for the next wave of growth for the retail banking segment. A number of major banks; both local and multinational have opened their branches in the Gulshan and Banani area of the capital in recent years as these two major posh areas of the city has become dotted with bank branches in recent years.
Speaking on the occasion, the City Bank CEO and Managing Director K Mahmood Sattar highlighted on his bank's current market scenario while also unveiling its future business plan. "In the future, City Bank hopes to rollout more innovative products to its customers through technologically advanced solutions and more modern and developed services", Sattar said.
"Soon, we are going to launch world renowned Mastercard payment services as well as American Express Corporate Card to our customers while the network of our Islamic banking services is also going to be expanded", he added.
The City Bank officials said that they are aiming to consolidate the market for credit and debit card through the introduction of Mastercard services as it is aiming for number one position in the arena.
The local bank is already offering a range of dual currency credit card and other payment services through the world-renowned brand American Express and Visa.
"Currently we have more than one hundred thousand card subscribers which makes us a major player in this grooming arena, but our ultimate aim is to grab the number one position within two years", City Bank Head of Retail Banking Mashrur Arefin told FE.
Industry insiders estimate that the country currently has around 600 thousand subscribers of debit and credit card. The biggest player in the segment reportedly has a 35 to 40 per cent market share.