Sunday, 27 November, 2022

IBBL crosses Tk 1trn deposit milestone

IBBL crosses Tk 1trn deposit milestone

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Islami Bank Bangladesh Limited is now a bank with a deposit of one trillion taka. The country's top private commercial bank crossed the milestone on Tuesday.

In 2019, the bank’s deposit was Tk 94681 crore in 2018 it was Tk 82257 crore, in 2017 it was Tk 75502 crore and in 2016 it was Tk 68135 crore, said a press release.

In addition to deposit, Islami Bank has collected the highest foreign remittances in May and June this year, surpassing all past records.

The amount was US$ 461 million in May and US$ 575 million in June. Remittance collection has never exceeded US$ 400 million in the past.

In June 2020, Islami Bank’s growth in remittance collection was about 116 percent as compared to June 2019. At present, Islami Bank’s market share in remittance collection is 32 percent.

The bank is making a significant contribution to the national reserve (foreign exchange reserves) by increasing remittance inflows through banking channels.

Islami Bank is making relentless efforts to build the habit of saving for the backward and lower income people besides making overall contribution to the balanced development activities of the country.

The bank is acting as a trusted custodian of people’s savings by cultivating a culture of compliance and conducting banking activities with utmost professionalism.

Islami Bank, a pioneer in Shariah-based banking, currently serves its customers through 357 branches, 43 sub-branches, 1,200 agent banking outlets, 660 own and about 11,000 shared ATM and CRM booths.

The bank's clientele base has grown significantly this year. At present the number of clients of the bank is 15 million.

Islami Bank started agent banking activities in 2017 to reach banking services to the people deprived of financial services. At present, the number of clients of the bank's agent banking outlets is 7 lakh 53 thousand and the amount of deposits is the highest of the country's agent banking of Tk 2600 crore.