Agent banking accounts exceed 12 lakh

As banks are gradually expanding their agent banking activities, the number of agent banking accounts has already exceeded 12 lakh in the country, reports BSS.

According to the quarterly data (October to December, 2017) of Bangladesh Bank (BB), the number of accounts with agents increased to 12,14,367 from 10,38,242 in the July to September quarter of 2017.

During the October-December period, the number of agents increased to 2,577 from 2,015 in the

July to September quarter and the number of bank agent outlets also increased to 4,157 from 3,565 in the same quarter.

During the quarter, deposit collection through the agent banking went up to Tk 1,399.39 crore, which was Tk 922.08 crore in the July to September period.

During the October-December period, official data show, Bangladeshi expatriates sent Tk 1,982.02 crore through the agent banking channel, which was Tk 1,240.34 crore in the July to September quarter.

"Agent banking is moving fast across the country...it is providing banking services by engaging representatives under a valid agency agreement," additional managing director and chief operating officer of Mutual Trust Bank (MTB) M Hashem Chowdhury told the news agency today.

Terming the agent banking a great initiative of the central bank, he said generally a bank needs a number of staff and huge expenditure to operate a branch. "If one bank can run its activities through agents, it will be helpful for both the bank and the customers," he said.

Hashem said MTB is providing various agent banking services, including cash deposits, withdrawal, remittance disbursement, small loan disbursement, loan recovery, and cash payments, to its clients through 50 agents and 50 outlets across the country.

 

Agent banking accounts exceed 12 lakh

As banks are gradually expanding their agent banking activities, the number of agent banking accounts has already exceeded 12 lakh in the country, reports BSS. According to the quarterly data (October to December, 2017) of Bangladesh Bank (BB), the number of accounts with agents increased to 12,14,367 from 10,38,242 in the July to September quarter of 2017. During the October-December period, the number of agents increased to 2,577 from 2,015 in the July to September quarter and the number of bank agent outlets also increased to 4,157 from 3,565 in the same quarter. During the quarter, deposit collection through the agent banking went up to Tk 1,399.39 crore, which was Tk 922.08 crore in the July to September period. During the October-December period, official data show, Bangladeshi expatriates sent Tk 1,982.02 crore through the agent banking channel, which was Tk 1,240.34 crore in the July to September quarter. Agent banking is moving fast across the country...it is providing banking services by engaging representatives under a valid agency agreement, additional managing director and chief operating officer of Mutual Trust Bank (MTB) M Hashem Chowdhury told the news agency today. Terming the agent banking a great initiative of the central bank, he said generally a bank needs a number of staff and huge expenditure to operate a branch. If one bank can run its activities through agents, it will be helpful for both the bank and the customers, he said. Hashem said MTB is providing various agent banking services, including cash deposits, withdrawal, remittance disbursement, small loan disbursement, loan recovery, and cash payments, to its clients through 50 agents and 50 outlets across the country.