Internet banking experienced an exponential boom amid the Covid-19 pandemic, seeing a huge 81.5% turnover growth year on year.
As per latest official figures up till last May, e-banking grew in terms of the number of customers, transactions, and turnover, as per a recent Bangladesh Bank report.
The number of customers increased over 44%, year on year, to 5.138 million in May.
The number of transactions in internet banking rose 66% while the amount surged by 81.51% to Tk20,663 crore.
And mobile financial service (MFS) accounts surged to 112.69 million in May, up 15% than in May 2021.
The number of MFS agents increased by more than 9% to 1.19 million during the period under review.
But, its [MFS] value in transactions was volatile during the last year.
The total amount transacted in May was Tk64,946 crore, down by approximately 9% from that in May 2021.
The number of transactions in e-commerce spiked by nearly 35% but its value in transactions also remained volatile in the past one year. In May last, its value was Tk867 crore.
However, the number of accounts in the internet ecosystem is now largely concentrated in consumer banking or retail banking.
