City Bank Chairman Rubel Aziz launches the bank's priority banking, Citygems, at a ceremony in Gulshan yesterday. Citygems Project Director Aziz Al Kaiser and the bank's Managing Director K Mahmood Sattar were also present. Photo: City Bank

The City Bank Ltd yesterday launched its priority banking arm, named Citygems, to serve its high-net-worth clientele better.
“Time is very precious, especially for the busy executives and businessmen who have little time to do normal banking. To better serve their needs, we have launched priority-banking services,” Rubel Aziz, the bank's chairman, said at the launch of the service at the bank's headquarters in Gulshan.
To qualify for priority banking, customers would have to maintain a monthly average balance of at least Tk 35 lakh in the savings account or Tk 50 lakh in the fixed deposit receipt account.
The Citygems customers are expected to receive wealth management services such as capital market investment advisory, access to private trading room at the Citygems centre with onsite traders, special desk for property and real estate related information.
Benefits such as virtual office, complimentary luncheon privileges, reserved parking with valet service, exclusive locker with powder room, full-service travel concierge arrangement, flight reservation assistance, would come with the account as well.
“In short, it would provide all the benefits and privileges that customers of the high-value segment want in their day-to-day lives. This would be priority banking in the truest sense,” said K Mahmood Sattar, managing director and chief executive of the bank.

A business meeting room designed for priority banking clients. Photo: City Bank

Regarding customer service, the bank has taken a two-layered approach: there would first information officers to help with the basic banking needs, and wealth managers to look after assets.
The Citygems customers will also receive an American Express card linked to their City Bank priority banking account, offering account holder's cash back of 7 percent on spending at leading grocery stores in the country.
Among many other unique benefits, four highlights are: complimentary dinner for two at five-star hotels on the customer's wedding anniversary, pre-approved overdraft facility of Tk 3 lakh, special discount for spa package at five-star hotels.
Standard Chartered, HSBC, BRAC Bank, Eastern Bank Limited, Mutual Trust Bank and United Commercial Bank, currently provide priority banking services to their clients.