Agent banking accounts cross 10 lakh

Banks are gradually expanding agent banking activities across the country as the number of accounts has already crossed 10 lakh, reports BSS. According to the Bangladesh Bank (BB) quarterly data (July to September), the number of accounts with the agents increased to 10,38,242 from 8,72,865 in the April-June quarter of 2017.

During the July-September period, the number of agents increased to 2,015 from 1,847 in the April to June quarter and the number of bank agent outlets also rose to 3,565 from 3,242 in the same quarter.

During the January-March quarter, the number of agents was 1,755 and that of total outlets 3,023.

During July to September period, expatriate Bangladeshis sent Tk 1,240.34 crore through agent banking channel, which was Tk 890.19 crore in the April to June quarter.

Agent banking is moving fast across the country, Additional Managing Director and Chief Operating Officer of Mutual Trust Bank (MTB) M Hashem Chowdhury told the news agency on Wednesday. He said it is providing banking services by engaging representatives under a valid agency agreement.

Mentioning the agent banking as a great initiative of the central bank, he said a representative is the owner of an outlet who conducts banking transactions on behalf of a bank. “Normally, a bank needs huge expenditures to open a branch. If the bank can run banking activities through agents, it will be helpful for both the bank and the customers,” he added.

Hashem Chowdhury said MTB is providing the agent banking services, including cash deposits, withdrawals, remittance disbursement, small loan disbursement, recovery of loans, and cash payments under the government’s social safety net programmes, through 27 agents and 30 outlets across the country.

Agent banking accounts cross 10 lakh

Banks are gradually expanding agent banking activities across the country as the number of accounts has already crossed 10 lakh, reports BSS. According to the Bangladesh Bank (BB) quarterly data (July to September), the number of accounts with the agents increased to 10,38,242 from 8,72,865 in the April-June quarter of 2017. During the July-September period, the number of agents increased to 2,015 from 1,847 in the April to June quarter and the number of bank agent outlets also rose to 3,565 from 3,242 in the same quarter. During the January-March quarter, the number of agents was 1,755 and that of total outlets 3,023. During July to September period, expatriate Bangladeshis sent Tk 1,240.34 crore through agent banking channel, which was Tk 890.19 crore in the April to June quarter. Agent banking is moving fast across the country, Additional Managing Director and Chief Operating Officer of Mutual Trust Bank (MTB) M Hashem Chowdhury told the news agency on Wednesday. He said it is providing banking services by engaging representatives under a valid agency agreement. Mentioning the agent banking as a great initiative of the central bank, he said a representative is the owner of an outlet who conducts banking transactions on behalf of a bank. Normally, a bank needs huge expenditures to open a branch. If the bank can run banking activities through agents, it will be helpful for both the bank and the customers, he added. Hashem Chowdhury said MTB is providing the agent banking services, including cash deposits, withdrawals, remittance disbursement, small loan disbursement, recovery of loans, and cash payments under the governments social safety net programmes, through 27 agents and 30 outlets across the country.