Bangladesh Krishi Bank (BKB) and BRAC Bank have climbed into the country's top three remittance-collecting lenders, reflecting intensifying competition among banks as remittance inflows reached a record US$35.56 billion in fiscal year 2025-26.
Although Islami Bank Bangladesh PLC saw its share of inward remittances decline slightly, it retained the top position for another year, while BKB and BRAC Bank emerged as the second and third largest remittance earners, according to Bangladesh Bank (BB) data.
Officials at BKB and BRAC Bank attributed the strong performance to an expanded network of overseas exchange house partnerships, host-to-host technology integration, extensive agent banking services and a growing range of products tailored for non-resident Bangladeshis (NRBs) and their families.
According to official data, Bangladesh received a record US$35.56 billion in inward remittances in FY2025-26, more than 17 per cent higher than the US$30.33 billion recorded in the previous fiscal year.
The top five remittance-collecting banks in FY2025-26 were Islami Bank Bangladesh (US$6.89 billion), BKB (US$4.10 billion), BRAC Bank (US$2.98 billion), Trust Bank (US$2.50 billion) and Agrani Bank (US$2.49 billion).
In FY2024-25, the top five were Islami Bank Bangladesh (US$4.97 billion), Agrani Bank (US$2.85 billion), Janata Bank (US$2.15 billion), BKB (US$2.11 billion) and Trust Bank.
Md Mostafizur Rahman, General Manager of the International and Accounts Division at BKB, said the bank had prioritised remittance mobilisation since 2019, following guidance from its board, to strengthen its foreign currency holdings and support the country's import payment obligations by leveraging its nationwide branch network.
Since then, he said, the bank has continued expanding partnerships with global exchange houses, integrating advanced technologies to ensure instant fund transfers and introducing a wider range of products for NRBs and their families.
"These initiatives have helped us earn the trust of expatriate Bangladeshis, which is reflected in the latest remittance figures," he said.
Since FY2022-23, BKB has strategically focused on the remittance business, enabling it to become the leading state-owned bank in remittance collection with inflows exceeding US$4.0 billion in FY2025-26, he added.
A senior BRAC Bank executive, who requested anonymity, said the bank ranked third among all commercial banks in wage earners' remittance collection in FY2025-26, processing US$2.97 billion, according to the latest industry data.
The performance placed BRAC Bank ahead of several long-established lenders and reinforced its position as one of the country's leading banks for inward remittances.
"This result reflects the trust that Bangladeshi expatriates continue to place in BRAC Bank as their preferred partner for sending money home safely, quickly and affordably," he said.
The bank has built a comprehensive remittance ecosystem, including dedicated savings products for both remitters and beneficiaries. Eligible customers can open accounts within minutes through BRAC Bank's fully digital onboarding platform from anywhere in the world.
Powered by Astha, the bank's internet banking super app, customers can access a full range of banking services remotely, he added.
The executive said BRAC Bank would continue investing in technology, compliance and customer service to further strengthen its remittance business and improve its ranking in the coming fiscal year.
Acting Managing Director of Islami Bank Bangladesh Md Altaf Hossain said uncertainty surrounding the bank's board and operational control had slowed remittance growth in June.
"Despite that, we managed to retain the top position. Our dedicated customer service, extensive nationwide network and longstanding goodwill remain our strengths. Now we are back on track," he added.
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