Banks' deposit up by 20pc in six months
Friday, 22 October 2010
Nazmul Ahsan
The amount of deposit in the banking sector marked a significant rise to Tk 3397.41 billion or 20.30 per cent as of June 30, 2010 compared to the corresponding figure six months back -- December, 2009, the latest data compiled by the Bangladesh Bank (BB) showed.
All categories of scheduled banks operating in the country attracted greater volume of deposits, thanks to their competitiveness and innovative approach, bankers said.
Besides, the increase in bank interest rates in recent period, which is between 1.0 and 1.50 per cent, also played a positive role in encouraging all types of depositors, bankers said.
They have pointed to sluggish demand in bank loans for the upward situation in deposits, as well.
According to the BB data, private commercial banks (PCBs) topped the list by collecting the highest amount of deposit of Tk 2038.23 billion or 60 per cent of total deposit during the period followed by four corporatised state-owned banks, specialized banks and foreign banks.
The deposit collected by state-owned banks was Tk 938.01 billion or 27.60 per cent, Tk 174.76 billion or 16.40 per cent by specialized banks and Tk 246.39 billion or 13.10 per cent by foreign commercial banks as of June 30, 2010, the BB data elaborated.
"The efforts to collect more deposit is always vigorous by PCBs as we always give our bankers specific targets to achieve," Muhammad Ali, Managing Director, Shahjalal Islami Bank told the FE last Wednesday.
"We ensure accountability and rewards for our staffs in recognition of their valued contribution to banks, resulting in positive result about collecting a good amount of deposit," he added.
The latest data of BB said, the weighted average of PCBs bank deposit rate was 6.84 per cent as on March 2010. It was 5.11 per cent in the case of state-owned banks and 3.40 per cent interest rate was applicable in the case of foreign banks. The highest rate of 7.40 per cent weighted average interest was applicable in the case five specialized banks.
However, the highest spread during the same period was 9.33 per cent for foreign banks followed by 5.48 per cent for PCBs, 3.69 per cent for state-owned banks and the lowest 2.26 per cent for specialized banks.
The amount of deposit in the banking sector marked a significant rise to Tk 3397.41 billion or 20.30 per cent as of June 30, 2010 compared to the corresponding figure six months back -- December, 2009, the latest data compiled by the Bangladesh Bank (BB) showed.
All categories of scheduled banks operating in the country attracted greater volume of deposits, thanks to their competitiveness and innovative approach, bankers said.
Besides, the increase in bank interest rates in recent period, which is between 1.0 and 1.50 per cent, also played a positive role in encouraging all types of depositors, bankers said.
They have pointed to sluggish demand in bank loans for the upward situation in deposits, as well.
According to the BB data, private commercial banks (PCBs) topped the list by collecting the highest amount of deposit of Tk 2038.23 billion or 60 per cent of total deposit during the period followed by four corporatised state-owned banks, specialized banks and foreign banks.
The deposit collected by state-owned banks was Tk 938.01 billion or 27.60 per cent, Tk 174.76 billion or 16.40 per cent by specialized banks and Tk 246.39 billion or 13.10 per cent by foreign commercial banks as of June 30, 2010, the BB data elaborated.
"The efforts to collect more deposit is always vigorous by PCBs as we always give our bankers specific targets to achieve," Muhammad Ali, Managing Director, Shahjalal Islami Bank told the FE last Wednesday.
"We ensure accountability and rewards for our staffs in recognition of their valued contribution to banks, resulting in positive result about collecting a good amount of deposit," he added.
The latest data of BB said, the weighted average of PCBs bank deposit rate was 6.84 per cent as on March 2010. It was 5.11 per cent in the case of state-owned banks and 3.40 per cent interest rate was applicable in the case of foreign banks. The highest rate of 7.40 per cent weighted average interest was applicable in the case five specialized banks.
However, the highest spread during the same period was 9.33 per cent for foreign banks followed by 5.48 per cent for PCBs, 3.69 per cent for state-owned banks and the lowest 2.26 per cent for specialized banks.