Dhaka: BRAC Bank has achieved a significant milestone, exceeding the Taka 30,000 crore mark in retail deposits at the end of October 2024. This achievement highlights the bank’s robust growth in the retail deposit sector and reflects the increasing trust customers place in BRAC Bank to safeguard and grow their savings, as stated in a press release today.
According to Bangladesh Sangbad Sangstha, BRAC Bank’s retail deposit portfolio experienced an impressive annualized growth rate of 34 percent, demonstrating remarkable resilience and growth. The Deputy Managing Director and Head of Retail Banking, Md. Mahiul Islam, expressed that surpassing the Taka 30,000 crore mark in retail deposits is a testament to the trust customers have in the bank.
BRAC Bank attributes its success to a wide range of deposit products, including savings accounts, fixed deposits, and various interest-bearing accounts, designed to cater to the saving needs of people from all walks of life. The bank’s emphasis on digital banking soluti
ons has also contributed significantly to deposit mobilization by offering customers convenient and secure banking options.
The bank’s strategy revolves around innovation and customer satisfaction, providing diverse products and services tailored to meet the needs of individuals and businesses across Bangladesh. This focus has played a crucial role in driving the growth of its retail deposit portfolio.