Saturday, 16 October, 2021

Number of millionaires on the rise

6,028 new entries in 6 months

  • Staff Correspondent
  • 13 October, 2021 12:00 AM
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Number of millionaires on the rise

The number of bank accounts holding at least Tk 1 million has increased by 6,028 to 99,918 during the January-June period this year.

The latest data from Bangladesh Bank show that in the beginning of January, the number of such bank accounts was 93,890, holding deposits of Tk 5.95 trillion.

During the six months, the number of millionaire accounts jumped to 99,918 with the deposit volume soaring to Tk 6.34 trillion.

BB data suggest that in the second quarter (April-June) this year, 5,646 millionaire accounts have been added while in the first quarter (January-March), some 382 new bank accounts made it to the millionaire club.

From January to December last year, some 10,051 millionaire accounts were added despite the Covid-19 pandemic and deposits of around Tk 680 billion was added to the existing millionaire accounts, according to BB data.

The contribution of millionaires in the total deposit of banks is also increasing as after June this year, their contribution was 44.08 per cent.

BB data revealed that 121,549,000 new bank accounts have been opened till June this year. Around 0.08 per cent of these accounts are owned by millionaires.

Till June 2021, the number of bank accounts with a deposit of Tk1 crore to Tk5 crore was 78,698. There were 11,013 accounts with a deposit of Tk5 crore to Tk10 crore, 3,599 accounts with Tk10 crore to Tk15 crore, 1,732 accounts with Tk15 crore to Tk 20 crore and 1,185 accounts with Tk 20 crore to Tk 25 crore. In 1972, there were only 5 millionaires in the country which increased to 47 in 1975. In 1980, there were 98 millionaires in the country. The number was 943 in 1990, 2,594 in 1996, 5,162 in 2001, 8,887 in 2006 and 19,163 in 2008.