BRAC Bank has attained a significant growth in deposits in the year 2023 as its distribution network draw alone has achieved a staggering deposit growth of more than Tk8,000 crore in the recently concluded year 2023 – a record in a single year.
The deposit growth at this scale is unprecedented in Bangladesh banking industry, said a press release.
The growth achieved by the business vertical can be attributed to countrywide network of 187 branches, ever growing sub-branch network, establishment and relocation of branches as per customer convenience, top class customer service, continuous customer engagement, and expansion of digital banking services.     
Managing Director and CEO Selim RF Hussain, Head of Branches Sheikh Mohammad Ashfaque joined with the leaders of distribution network in celebrating the milestone of record deposit growth at a ceremony on 9 January.
Senior zonal heads – Taher Hasan Al Mamun and AKM Tareq, regional heads, cluster managers and branch managers were present.
Commenting on the deposit growth, Selim RF Hussain, said, “The phenomenal growth in customer deposits in 2023 reflects on our ability to grow our balance sheet and customer numbers at a pace, well above industry average, even during difficult times. The bank’s consistent deposit growth in challenging market scenario is a testament to customers’ reliability and trust in the bank.
He further said, “The bank’s good governance, credit rating, transparency and compliance play a part in achieving customer trust. This growth will be a stepping stone towards our goal of doubling business within 2025.”