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Deposits via agent banking rose to 32,406C in May

The number of deposit accounts through agent banking increased to 19.6 million as of May from 19.2 million in April

Update : 20 Jul 2023, 05:17 PM

Deposits via agent banking outlets rose to Tk32,406 crore in May compared to Tk31,531 crore in April.

According to Bangladesh Bank data, the number of deposit accounts through agent banking increased to 19.6 million as of May from 19.2 million in April.

Total numbers of male, female and other deposit accounts are 9.61 million, 9.67 million and 291,000 respectively.

The highest number of accounts and the highest amount of balance were in the form of savings.

Total number of loan accounts through agent banking as of May was 191,689.

The total amount of loan disbursed was Tk834.3 crore for the month, while the loan recovery amount during this month was Tk464.18 crore.

Microcredit loan disbursement through agent banking outlets is preferred more than the traditional banking system.

The outstanding balance of loans as of May was Tk7,637 crore, of which Tk2,235 crore and Tk5,401 crore were disbursed in urban and rural areas respectively.

In May, the total number and amount of transactions through agent banking outlets were 9.19 million and Tk44,210.47 crore respectively

Agent banking transactions increased by 13.11% to Tk72,678 crore in May compared with that in the previous month.

The Bangladesh Bank introduced agent banking in 2013. 

It is less costly compared with the traditional banking system where customers are able to receive various banking services within real time from this platform through an agent, the BB in a report said.

At present, 31 banks are operating agent banking activities in Bangladesh of which top five banks registered 68% of the total outlets.

The other 26 banks occupied the remaining 32% of the total agents.

Bank Asia has 5,342 agents, the highest of the total number of agents.

Islami Bank Bangladesh has 2,695 agents, Dutch-Bangla Bank Limited 1,078, Brac Bank 921 agents and Modhumoti Bank 586 agents.

The total number of outlets soared to 21,216 in May from 21,115 in March.

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