Citizens Bank PLC is one of the fifth-generation banks, scheduled 61st Private Commercial Bank in Bangladesh. Some enthusiastic entrepreneurs and professionals came up to establish a new bank with distinctive orientation and motto. The sponsors of this banking organization have got the firm commitment to transform this newly emerged bank into the most acceptable and trustworthy baking financial institution and in that direction all our efforts are afoot from the very inception.
Citizens Bank PLC
Vision, Mission & Core Values
Vision Statement
- To be the most preferred bank of first ranking choice in the industry.
- To become one of the finest banking financial institutions in terms of compliance status on all the regulatory issues
- To be purpose driven institution geared to transformation of challenges into opportunities.
- Our underlying motto is to ensure financial welfare of our valued clients across the different segments through wide range of financial products & services.
- To ensure sustainability of performance in all the core areas of banking operations.
- To protect and promote the interest of our most valued depositors as their safest custodian.
- Maximization of the value of investment of our shareholders and uphold their interest at any cost.
- Our bank will be the teach-savvy one ensuring well equipped, structured and secured ICT system. We believe accepted level of convergence of process, people and technology will create enabling environment for success.
Mission Statement
- To explore and exploit all the avenues by leveraging the existing and emerging opportunities as well as adoption of updated fin-tech to provide hassle free customized banking services in a very cost efficient manner.
- To carve a competitive and distinctive position in the banking industry.
- We aspire to acquire and uphold the trust of our constituents/stake holders by maintaining the highest possible ethical standard.
- To build up sound, well diversified, sustainably performing Credit Risk portfolio with constant effort to restrain the growth of NPLs treating it as the corrosive factor for the financial health of the bank.
- To build up strong risk management culture.
- We shall continue our relentless efforts to protect, promote and uphold the interest of our clients/depositors, towards creation of economic value proposition and shall always remain systemically responsible for our promoters and shareholders as well as others stakeholders.
Core Values
- Integrity – We say what we do; we do what we say.
- Team Spirit – Our essence of success is togetherness.
- Respect – We want to be courteous and cordial for all our stakeholders.
- Accountability – We take ownership of responsibility with transparency.
- Community – We are involved in every spheres of overall wellbeing of our society and nation at large and intend to be the proud partner of it.
- Service – We intend to deliver excellent & customized financial services/solutions.
History of Citizens Bank PLC
Bangladesh Bank (Central Bank of Bangladesh) accorded final approval to Citizens-Bank PLC as a Commercial Scheduled Bank in the private sector on 15 December 2020. Earlier, the bank had applied for an extension at several board meetings of Bangladesh Bank as it could not meet other required conditions including the paid-up capital of BDT. 500 crore. Citizens Bank has been given final approval at the 410th Board Meeting of Bangladesh Bank in 2020 after fulfilling the necessary conditions. After that, a letter was officially sent from the central bank to the Citizens Bank authorities to start banking activities in the country.
The list of sponsors are as follows:
| SL. No. | Board of Directors | Designation |
|---|---|---|
| 01. | Mrs. Towfika Aftab | Chairman |
| 02. | Mr. Mohammed Iqbal | Sponsor Director |
| 03. | Mr. Mukhlesur Rahman | Sponsor Director |
| 04. | Mr. Masuduzzaman | Sponsor Director |
| 05. | Mr. Rakibul Islam Khan | Sponsor Director |
| 06. | Ms. Tajkia Rahman | Sponsor Director |
| 07. | Mr. Mohammad Abdul Salam | Sponsor Director |
| 08. | Mr. Chowdhury Mohammed Hanif Shoeb | Sponsor Director |
| 09. | Mr. Md. Rafiqul Islam | Sponsor Director |
| 10. | Mr. Sk. Md. Iftekharul Islam | Sponsor Director |
| 11. | Mrs. Zebunnessa Begum Huq | Sponsor Director |
| 12. | Ms. Shafia Alam | Sponsor Director |
| 13. | Mr. N.K.A Mobin FCS, FCA | Independent Director |
The first designated Chairman of Citizens Bank PLC. was Mrs. Jahanara Huq, who breathed her last due to age old complications On April 18, 2020. On June 8, 2020, Mrs. Tawfika Aftab was unanimously elected as the Chairman of the Board of Directors of the Bank.
On December 13, 2020 Citizens Bank PLC got registered as a Bank Company with Registrar of Joint Stock Companies & Firms. On December 15, 2020 Bangladesh Bank issued Banking License in favor of Citizens Bank PLC incorporating it as one of the Scheduled Banks of Bangladesh.
On January 14, 2021 Mr. Mohammad Masoom was appointed as Managing Director & CEO of Citizens Bank PLC.
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