MoU signed between City Bank and Toyota Bangladesh Limited

City Bank PLC and Toyota Bangladesh Limited signed a Memorandum of Understanding (MoU) for Strategic Partnership at City Bank’s head office.

The MoU was signed by Premmit Singh, managing director of Toyota Bangladesh Limited and Mashrur Arefin, managing director & CEO of City Bank PLC, in the presence of senior officials from both organisations.

Under this arrangement, City Bank has extended credit facilities to Toyota Bangladesh Limited to support its operations in Bangladesh.

The collaboration also includes corporate cards, collection and cash management solutions, foreign trade services, and employee banking, including payroll services.

Speaking at the ceremony, Mashrur Arefin said that Toyota’s decision to route its FDI through City Bank reflects the working relationship between the two institutions and the Bank’s capability to support foreign-owned companies operating in Bangladesh.

Premmit Singh announced special discounts on Toyota vehicles for City Bank employees and expressed his intention to further strengthen the cooperation between the two organisations.

Both parties stated that they look forward to continued collaboration in the future.