According to Bangladesh Bank data, deposits through agent banking were Tk 27,754.5 crore in June 2022. Prior, the amount was Tk 20,218 crore in June 2021. At the moment, the record-breaking amount is Tk 28,016 crore.
Agent Banking Outlets: Transactions
In July, the sum of transactions through agent banking outlets was 89,48,643. Additionally, the total amount of transactions was Tk36,152.13 crore.
Agent Banking Outlets: Deposits
As per the report, the number of deposit accounts through agent banking was 1.62 crore as of July 31. Among them, the male account was 79.35 lakh and the female account was 2.28 lakh, 80.82 lakh deposit accounts in total.
Agent Banking Outlets: Savings
Before this, the highest number of accounts and the highest amount of balance were in the form of savings. In urban areas, there were 16.91 lakh savings accounts which held Tk 1,728.167 crore. Simultaneously, 81.43 lakh accounts held Tk 10,841.55 crore in rural areas.
Agent Banking Outlets: Loans
The total number of loan accounts through agent banking was 1,57,911 as of July 31, 2022. Further, the outstanding balance of loans as of July 2022 was Tk 5,159.07 crore. In which, urban and rural areas contributed Tk 1,848.01 crore and Tk 3,311.05 crore respectively.
Agent Banking Outlets: Lending
According to The Bangladesh Bank data, banks’ lending through the agent banking channel was Tk 1,088 crore in July. In the same vein, the amount of recovery was Tk 309 crore in the month. Further, The lending was Tk 5,615.2 crore in July-June of 2021-22, up 109.315 on Tk 2,682.6 crore in the previous financial year. The total number of outlets soared to 19,738 in June 2022 from 17,147 in June of the previous year.
Agent Banking Outlets: Top 5 Banks
According to the report, 31 banks are now operating agent banking activities in Bangladesh. Be that as it may, the top five banks registered 72 percent of the total agents. The other 26 banks occupied the rest 28 percent of the total agents.
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Bank Asia has the highest (5,186) number of agents. In other words, they own 36 percent of the total agents.
Having said that,
- Islami Bank Bangladesh has 2,689 agents or 19% of the total agent.
- Dutch-Bangla Bank Limited has 1,054 agents, which is 7% of the total agent.
- The City Bank has 789 agents or 5% of the agent banking outlets.
- BRAC Bank has 702 agents, having 5% of the total agents, they took place in the top chart.
To sum up, Agent banking is providing effective financial services to rural and unprivileged people. This intention is to minimize the shortage of traditional banking facilities. The Bangladesh Bank introduced agent banking in 2013. Because it is convenient and less costly than the traditional banking system. In addition, it enables customers to receive multiple banking services in real-time.
Moreover, the participation of women in financial activities is also apparent. Hence, it reveals that women eagerly engage in financial services. Which is a positive sign for the advancement of the local economy.
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