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City Bank Essay

6945 words - 28 pages

INTRODUCTION

The company that we have chosen is City Bank is one of the oldest private Commercial Banks operating in Bangladesh since 27th March 1983 commenced by thirteen local businessmen by opening its first branch at B. B. Avenue Branch in the capital, Dhaka. It is a top bank among the oldest five Commercial Banks in the country which started their operations in 1983. It was the vision of 13 local businessmen who braved the risks and uncertainty with courage and fervor that made the establishment & development of the bank possible. Those sponsor directors initially started the journey with only taka 3.4 crore worth of capital, which now is a respectable taka 330.77 crore of ...view middle of the document...

Besides these traditional delivery points, the bank is also very active in the alternative delivery area. It currently has 123 ATMs of its own; and ATM sharing arrangement with a partner bank that has more than 550 ATMs in place; SMS Banking; Interest Banking and so on. It already started its Customer Call Center operation. The bank has a plan to end the current year with 200 own ATMs.
City Bank is the first bank in Bangladesh to have issued Dual Currency Credit Card. The bank is a principal member of VISA international and it issues both Local Currency (Taka) & Foreign Currency (US Dollar) card limits in a single plastic. VISA Debit Card is another popular product which the bank is pushing hard in order to ease out the queues at the branch created by its astounding base of some 400,000 retail customers. The launch of VISA Prepaid Card for the travel sector is currently underway. City Bank has launched American Express Credit Card and American Express Gold Credit card in November 2009. City Bank is the local caretaker of the brand and is responsible for all operations supporting the issuing of the new credit cards, including billing and accounting, customer service, credit management and charge authorizations, as well as marketing the cards in Bangladesh It has strong tie-ups with major exchange companies in the Middle East, Europe, Far East & USA, from where thousands of individual remittances come to the country every month for disbursements through the bank's large network of 99 online branches and SME service centers.
City Bank prides itself in offering a very personalized and friendly customer service. It has in place a customized service excellence model called CRP that focuses on ensuring happy customers through setting benchmarks for the bank's employees' attitude, behavior, readiness level, accuracy and timelines of service quality. 
City Bank is the first private sector bank in Bangladesh offering world-class challenging career opportunities. Their people-management philosophy is to develop, recognize and reward performance. A robust and transparent process of assessment, coaching, training and reward, which enables individuals to realize their full potential in line with their career aspirations, supports the bank's management style.

CITY BANK’S VISION AND MISSION
A vision is more than a goal; it is an encompassing explanation of why the organization exists and where it’s trying to head. Its gives the organization sense of purpose and a set of values that unite the workers in a common density. Managing a organization without establishing a vision is like getting on rowboat excited about going somewhere but not telling them where exactly. A Vision Statement of a company describes the desired future position of the company. The vision statement, by contrast to the mission statement, is not about what the company currently is, but what the company hopes to become. The top management usually sets a vision for the...

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