Both the number of deposit accounts owned by women and the amount of money they kept in those accounts with non-bank financial institutions fell in the January-March quarter of this year compared to the previous quarter, according to Bangladesh Bank data, suggesting decreased female participation in financial affairs.
The deposit accounts with non-bank financial institutions (NBFIs) comprise individual and enterprise categories.
In January-March, the number of NBFI deposit accounts owned by individual males and money in those accounts rose compared to the previous quarter quarterly. However, both male enterprise accounts and deposits held by enterprises slipped in the first quarter of this calendar year.
The share of male deposit accounts in the enterprise category was notably higher, constituting 7.31 per cent of the total enterprise accounts -- 6.98 times more than the female deposit accounts, which stood at 1.05 per cent, according to the central bank data.
However, male enterprise deposit accounts decreased 5.52 per cent quarter-over-quarter, falling 1,825 to 31,223 from October-December 2023 to January-March 2024.
Female enterprise deposit accounts declined marginally by 0.07 per cent, or three accounts, to 4,476.
These figures reflect ongoing gender disparities in both the number and value of deposit accounts. While men continue to dominate deposits in both enterprise and individual segments, fluctuations have occurred across categories, according to stakeholders.
The increase in male individual deposit accounts and their corresponding amounts suggests growing financial activity among men. The decrease in male enterprise deposit accounts and values indicates a contraction in this area.
For women, declines in both individual and enterprise deposit accounts and amounts suggest reduced financial engagement.
Male dominance continued in the individual deposit category, with men holding 62.01 per cent of total accounts, more than double the 29.64 per cent held by women.
Male individual deposit accounts increased marginally by 0.17 per cent, or 438 accounts, to 264,976 by the end of the first quarter of 2024.
On the other hand, female individual deposit accounts declined 1.93 per cent, or 2,490 accounts, to 126,666.
Total deposits for male individuals rose 0.70 per cent, or Tk 845.2 million, to Tk 120.79 billion by the end of the January-March quarter of 2024.
The share of male accounts in enterprise (28.09 per cent) is 4.73 times more than that of female accounts (5.94 per cent) and the share of male accounts in individual (57.13 per cent) is 6.46 times more than that of female accounts (8.84 per cent) at the end of January-March., 2024, the BB data revealed.
Male individual accounts increased by 3008 or 2.41 per cent to 127824 and female individual accounts increased by 437 or 2.26 per cent to 19772 in January-March, 2024 as compared to October-December, 2023.
However, male enterprise accounts increased by 537 or 0.86 per cent to 62851 and also female enterprise accounts increased by 56 or 0.42 per cent to 13296 respectively during the quarter under review as compared to October-December, 2023.
On the other hand, the share of male loans and advances in individual decreased by 84.6 million (Tk.846 lac) or 0.07 per cent to Tk 123.12 billion( Tk.1231208 lac) but in enterprise increased by Tk 6.01 billion (Tk.60119 lac) or 1.07 per cent to Tk 570.23 billion( Tk.5702320 lac) respectively at the end of January-March, 2024 as compared to October December 2023.
While the share of female loans and advances in individuals decreased by Tk 442.8 million (Tk.4428 lac) or 1.59 per cent to Tk 27.46 billion (Tk.274639 lac) but in enterprise increased by Tk 2.22 billion (Tk 22211 lac) or 9.98 per cent to Tk 24.48 (Tk.244808 lac) respectively during the quarter under review as compared to October-December 2023.
Golam Sarwar Bhuiyan, managing director of IDFC and President of the Bangladesh Leasing and Finance Companies Association (BLFCA), said, "Our institution and other NBFIs are striving to bridge the gender gap in both deposits and loans."
"In the past, male enterprise clients often opened bank accounts in their wives' names. However, all NBFIs now strictly oversee this practice to prevent exploitation."
Regarding deposits, Mr Bhuiyan noted that meeting the target is relatively easier than for loans.
He said his institution occasionally conducts awareness programmes to minimise the gender gap and promote women's empowerment.
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