Bank deposits in Bangladesh rose by approximately Tk74,000 crore in the April-June quarter of the ongoing calendar year, considered to be the highest-ever deposit growth in a single quarter in the country's history.
According to Bangladesh Bank, the amount of deposits in the banking sector was Tk1,613,000 crore in the January-March quarter of 2023, which increased by Tk73,962 crore, or 4.59%, to reach Tk1,687,000 crore at the end of the April-June quarter.
Compared to the end of June 2022, deposits at the end of June 2023 have increased by Tk114,000 crore, or 7.24%.
According to central bank data, the amount of money in circulation at the end of June 2022 was around Tk256,000 crore, which rose by Tk55,765 crore to stand at Tk311,000 crore by the end of June 2023.
According to the central bank report, there has been an increase in deposits of all types of banks during the April-June period of this year.
Deposits in state-owned banks increased by Tk23,300 crore during the April-June quarter of 2023, which was the highest since the beginning of 2021.
Currently, these banks hold Tk430,000 crore as deposits.
The growth of deposits in private banks during the April-June period was Tk49,000 crore, and in Islamic banks it was Tk13,000 crore, which was the highest in the last one year.
Currently, private banks have Tk1,132,000 crore and Islamic banks have Tk368,000 crore in deposits.
The total borrowing from the banking system stood at Tk124,000 crore at the end of June 2023, higher than the borrowing target of Tk115,000 set in the revised budget for FY23.
Of the borrowed figure, 80%, or nearly Tk100,000 crore, was taken from the Bangladesh Bank.
