Staff Reporter :
The growth in banking sector deposits increased by 8.28 per cent in January this year, following a period of growth below 8 per cent for the last four months of 2024, according to the latest data from Bangladesh Bank.
Deposits grew by 7.44 per cent in December 2024, after standing at 7.26 per cent in September, 7.28 per cent in October, and 7.46 per cent in November, the data revealed.
Industry insiders attributed the prolonged low deposit growth to factors such as high inflation, reduced liquidity, and customer distrust in certain banks.
The Awami League government fell in the face of a mass movement that continued from July to August last year.
Even before that, the economy had been grappling with various challenges, including a dollar shortage, dwindling reserves, and declining remittances.
The interim government has taken various measures to address the economic shocks brought about by the political changeover, but bank deposit growth has not yet regained its strength.
A senior Bangladesh Bank official stated that bank deposit growth should typically remain above 10 per cent and, in a country like Bangladesh, ideally between 12-14 per cent.
In January 2025, approximately Tk 2,140 crore, which had been outside the banking system, was deposited back into banks. By the end of January, the total amount of money outside the banking system stood at Tk 2.74 lakh crore, slightly down from Tk 2.76 lakh crore in December.
According to Bangladesh Bank data, deposits in the banking sector reached Tk 17.76 lakh crore in December 2024, up from Tk 16.45 lakh crore in the same period the previous year.
Additionally, Sharia-compliant banks reported that over six lakh new accounts were opened in the last six months, with customers depositing more money than they withdrew.
