BB Gains Tk 8,000 Crore in Net Deposits Post-Govt Change

Industry: Bank, Financial
Company: Bangladesh Bank
Company Intelligence Tag: Business Insights

Following the recent government change in Bangladesh, there has been a significant shift in money circulation. From August 5 to August 23, the central bank saw a net deposit of approximately Tk 8,000 crore, as people returned their money to banks. On August 18, the amount of money in circulation decreased to Tk 3,14,583 crore from Tk 3,22,271 crore on August 18, and Tk 3,15,540 crore on August 6. This reflects a return of Tk 7,688 crore to the central bank. While some banks are still struggling to return deposits due to liquidity issues, overall trust is improving. The central bank has taken several measures, including increasing deposit insurance from Tk 1 lakh to Tk 2 lakh and restructuring the boards of ten banks. Banks like Islami Bank Bangladesh have begun recovering, while others such as First Security Islami, Social Islami, Union, Global Islami, and Bangladesh Commerce are facing challenges. The central bank is also addressing issues with non-performing loans and has provided special funds to certain banks to stabilize the sector.

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