City Bank has won the Leading Partner Bank Award in Bangladesh for the second consecutive time in Trade and Supply Chain Finance Program (TSCFP) Awards 2021 by Asian Development Bank.
Earlier, the bank won the award in 2020.
Over 200 partner bank representatives attended the ceremony where 27 banks were recognised in 21 categories, a press release said on Wednesday.
City Bank won the award for being the most active partner bank of ADB in Bangladesh during the 12-month period of July 1, 2020 to June 30, 2021.
In this period, the bank collaborated with ADB for coverage of trade transactions of small and large deals for corporate and SME clients.
The award was achieved due to the bank’s continual efforts to increase its trade financing capacity, operational efficiency, financial health and risk management, read the release.
In 2019, City Bank won the Momentum Award for highest growth in transactions partnered with ADB.
City Bank has been participating with ADB under their TSCFP program as issuing bank since 2016. From 2017, the bank has also availed the revolving credit facility.
ADB’s support under the program has enhanced City Bank’s reach towards major international banks and opened doors towards extended trade lines and financing opportunities, the release said.
This, in turn, has allowed City Bank to support its customers by taking higher volume and critical trade transactions, it added.
