Slight remittance rebound and government handouts raised deposits in Bangladesh's banking system by 4.59% to Tk1,687,000 crore in June over its previous quarter ending in March 2023.
Latest official statistics of the central bank of Bangladesh, released Tuesday, portrayed the positive picture of the financial front that is turning the corner after volatility.
The number of millionaire account-holders, having deposits between Tk1 crore-plus and Tk50 crore-plus, stands at 113,554, up by 3,362 from the March 2023 quarter, the statistics showed.
Loans and advances from the scheduled banks increased by 2.92% to Tk1,446,000 crore during the period under review.
Of the total deposits of Tk1,687,000 crore by the end of June, the shares of state-owned banks, specialized banks, foreign banks, private banks (including Islamic banks) and Islamic banks were 25.50%, 2.7%, 4.68%, 67.11% and 21.83% respectively.
The deposits distributed by types of accounts revealed that the share of fixed deposits to total deposits declined 43.07%, down by 0.58 percentage points from January-March 2023 quarter.
In total deposits, the share of private-sector deposits (82.93%) was 4.86 times higher than the public-sector deposits (17.07%) at the end of the quarter of April-June 2023.
Breakdown of deposits as per administrative areas reveals overconcentration in two divisions -- Dhaka accounting for more than half at 61.66% of the total deposits, and Chittagong with 20.9%.
The scheduled banks' investment increased by 5.80% to Tk384,000 crore at the end of the quarter April-June over its previous quarter.
The scheduled banks' borrowings from Bangladesh Bank at the end of the quarter under review decreased by 6.28% to Tk105,000 crore over its previous quarter.
The bulk of loans and advances or 33.84% was used for trade purposes followed by advances for working-capital financing at 19.68% and term loan at 20.32% at the end of the April-June quarter 2023.
