In August, the agent banking sector witnessed a substantial surge in loan disbursement, soaring by 24.12% to reach Tk843 crore, while deposit growth merely inched up by 1.5%. In contrast, remittances plummeted by 36.44%, raising concerns among bankers, who have urged the government to intensify efforts to combat illegal remittances.
The month of August also marked an increase in the total number of agent outlets and accounts, with a noticeable rise in female accounts.
Agent banking played a crucial role in facilitating bill payments, reaching a total of Tk136 crore, a significant improvement from Tk113 crore in July.
According to data from the central bank, August saw a deployment of 15,671 agents operating through 21,559 outlets, surpassing the figures from July when there were 15,574 agents and 21,399 outlets. Rural areas hosted 13,206 agents, with 2,465 agents operating in urban regions in August, signifying an increase compared to July when there were 13,156 rural agents and 2,418 urban agents.
In August, the distribution of agent outlets also showed growth, with 18,486 outlets in rural areas and 3,073 in urban areas, as opposed to 18,400 rural outlets and 2,999 urban outlets in July.
As of August, the total number of accounts reached 20.45 million, indicating an uptick from the 20.15 million recorded in July. The agent banking sector continues to demonstrate its vital role in expanding financial services accessibility and stimulating economic growth, with an increased focus on the need to combat illegal remittances.