10 banks handle 67% of remittance Bangladesh gets in August

There are 61 scheduled banks operating in Bangladesh. They are allowed to bring in remittances sent by millions of Bangladeshis working abroad.

But not all banks handle the same amount of remittances, according to Bangladesh Bank data.

BB data released on Thursday showed Bangladeshi expatriates sent back $2.03 billion in remittances in August. Of the amount, over 67 percent was channeled by 10 banks.

Of these banks, the highest $430 million was sent by Islami Bank, followed by City Bank $141 million, Agrani Bank $132 million, Pubali Bank $114 million and Dutch-Bangla Bank $102 million.

Interestingly, there are seven other banks that have failed to receive any remittance in August. Of these banks four are foreign-owned, two state-owned and one private bank.

The foreign banks are: Bank Al-Falah, Habib Bank, National Bank of Pakistan and State Bank of India.

Bangladesh saw its inward remittance drop by 15.12 percent to $21.03 billion year-on-year in FY22 after growing by more than 36 percent to $24.78 billion a year ago.