BRAC Bank has achieved significant growth in deposits in 2023. Its distribution network alone achieved a staggering deposit growth of more than Tk 80 billion in the recently concluded year, which is a record in a single year. BRAC Bank Managing Director and CEO Selim R. F. Hussain and Head of Branches Sheikh Mohammad Ashfaque joined with the leaders of the distribution network in celebrating the milestone at a ceremony recently. BRAC Bank has achieved a significant growth in deposits in 2023. Its distribution network alone has achieved a record deposit of more than Tk 80 billion in the recently concluded year.
The deposit volume is unprecedented in Bangladesh's banking industry, according to a statement.
The achievement can be attributed to a countrywide network of 187 branches, an 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.
BRAC Bank Managing Director and CEO Selim R. F. Hussain and Head of Branches Sheikh Mohammad Ashfaque joined with the leaders of the distribution network in celebrating the milestone of record deposit growth at a ceremony recently.
Senior zonal heads Taher Hasan Al Mamun and A.K.M. Tareq and regional heads, cluster managers and branch managers were present.
Commenting on the deposit growth, Selim R. F. Hussain, stated: "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 scenarios is a testament to customers' reliability and trust in the bank. 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."
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