Bangladesh's best bank for premium services 2018: The City Bank/Citygem
The City Bank/Citygem
Citygem is the private banking operation of The City Bank, run by chief executive Sohail R K Hussain. But nationalism compels Bangladesh’s central bank not to allow private banking as much of the world knows it, so in Bangladesh it’s called priority banking.
Citygem is designed, as the bank openly admits, “to meet the banking needs of high net-worth customers”.
The boutique banking offering grew in 2017. The bank now claims 4,200 members, with a cumulative deposit balance of Tk18 billion ($217 million), which the bank boasts is highest customer-to-deposit ratio in Bangladesh banking.
Citygem members bank at state-of-the-art lounges with in-house baristas and private share-trading rooms, with advisers on hand covering portfolio management and the property market. There’s valet parking, a 24/7 airport shuttle and access to The City Bank’s American Express-linked airport lounges.
Citygem also scaled up its Sapphire line this year for the seriously rich, offering members exclusive travel, health and lifestyle privileges.
A bank insider reckons more than half of Bangladesh’s wealthiest families use Citygem, which has become of a look-at-me status symbol in Dhaka.