Islami Bank leads agent banking boom with nearly half of all deposits

Business report :

Bangladesh’s banking sector amassed Tk 47,700 crore in deposits through agent banking during the July-September quarter, with Islami Bank alone contributing Tk 21,383 crore nearly 45 percent of the total, according to newly updated data from Bangladesh Bank.

The central bank reports that 30 banks operating agent outlets collectively mobilised the Tk 47,700 crore, with Islami Bank securing the top spot. Dutch-Bangla Bank followed with Tk 6,752 crore, while Bank Asia ranked third with Tk 6,263 crore.

Islami Bank Chairman Professor Dr M. Zubaidur Rahman credited the bank’s performance to renewed customer confidence and improved governance.

He said the bank surpassed Tk 1,80,000 crore in total deposits this year after adding around Tk 18,000 crore in fresh deposits. Islami Bank also retained its leading position in remittance collection.

Bangladesh Bank figures also show that during the same July-September quarter, agent banking loan disbursements totalled Tk 31,910 crore.

BRAC Bank dominated this segment, issuing Tk 22,712 crore in loans. City Bank and Bank Asia followed with Tk 3,563 crore and Tk 1,684 crore respectively.

The total number of agent banking accounts across the 30 banks now stands at 25,139,293. Dutch-Bangla Bank leads with 7,613,621 accounts, trailed closely by Bank Asia with 7,435,727, while Islami Bank holds 5,610,145 accounts.

Nationwide, agent outlets have reached 20,488 including 5,620 of Dutch-Bangla Bank, 5,035 of Bank Asia and 2,792 of Islami Bank.

Agent banking continues to expand steadily. In December 2024, the number of accounts stood at 24,073,865. By the end of last September, the figure had climbed to 25,171,164 – an increase of 1,033,299 accounts in nine months.

Deposits through agent banking also rose significantly during the same period, jumping by Tk 5,915 crore. Total deposits reached Tk 47,700 crore in September, up from Tk 41,785 crore in December last year.