Internet Banking Transactions Increased by 94% YoY in April 2023

Internet Banking has been rapidly rising in popularity since the Covid Pandemic. The number of customers using the service increased by 3.3 times in April 2023 compared to April 2019 as the service provides the convenience of making transactions without visiting branches of banks. 

Internet Banking customers increased by 40% YoY to 6.9 million. In April 2019 there were only 2.1 million internet customers. Internet Banking customers increased by 2.6% MoM, there were 6.71 million Internet customers in March 2023. 

Number of Transactions increased by 31% YoY to 7.7 million transactions. The number of transactions increased by 17.5% compared to March 2023. Number of transactions was 6.5 million in March 2023. 

Amount of Transactions increased by 94% YoY to Tk 446,043.6 million. The amount of Internet banking transactions increased by 32.9% compared to March 2023. The significant increase in transactions was due to Eid during the period.

Read more: The number of Credit Cards Increased by 14% YoY in April 2023 In Bangladesh

The amount of transactions increased by 8.9 times in April 2023 compared to April 2019. The average amount per transaction is also increasing gradually. The average amount per transaction was Tk 58,106.8 in April 2023 which was Tk 39,172.0 in April 2022. 

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