Total deposit liabilities of Bangladesh’s 61 scheduled banks rose by 4.34% to approximately Tk 18.39 trillion in Q2 2024, driven by improved deposit rates. In Q1 2024, deposits had grown by less than 1%, totaling over Tk 17.62 trillion, according to a Bangladesh Bank report. Urban deposits, comprising over 84% of total deposits, increased by 4.32% to about Tk 15.56 trillion, while rural deposits rose by 4.47% to Tk 2.83 trillion. Fixed deposits grew by 3.86% to Tk 8.22 trillion, and savings deposits increased by 2.43% to Tk 3.82 trillion. The average interest rate on deposits was 5.51%, with fixed deposit receipts for terms of three years or more at 9.75%. Bank officials attribute the growth to rising interest rates and reforms in the interest rate regime, with increased confidence reflected in the return of funds to the banking sector.
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