According to Bangladesh Bank, deposits at agent banks in Bangladesh sprialled almost twice to Tk 20,379 crore in fiscal year 2020-21, up by 99.4 per cent. It was Tk 10,159 crore in the previous FY. Due to the Corona shutdown people adopted alternatives to traditional banking.
Till June 2021, top five banks held 87.33 per cent share of the total amount of deposits mobilized through agent banking.
On the other hand, loan disbursement through agent banking outlets sharply rose to Tk 3,186 crore in FY21 from Tk 721 crore in the previous FY. Top five banks disbursed 99.28 per cent of the total loan disbursed through agent banking till June 2021.
There are 28 banks operating agent banking across the country with 17,145 outlets and 12,912 agents. At the end FY21, there were 1.22 crore agent banking accounts, of which women hold 56.75 lakh.
Islami Bank Bangladesh (IBBL) has mobilized the highest amount of deposits through agent banking which is 33.67 per cent of the total volume amounting to Tk 6,861.11 crore.
BRAC Bank disbursed the largest volume of loans amounting to Tk 1,998.57 crore, 62.72 per cent.
Bank Asia has opened the highest number of 43.75 lakh accounts or 35.84 per cent of the total.
Source: Business Post