Internet banking adoption in Bangladesh reached nearly 44 per cent of the total population by March 2025, marking a sharp rise from just over 25 per cent in December 2019, according to the Bangladesh Bank鈥檚 data.
The central bank published a special report titled 鈥楩inancial Inclusion and Central Banking: Bridging Gaps in Bangladesh鈥� on Thursday, evaluating financial inclusion landscape in the country.
According to the report, the upward trend reflects growing consumer appetite for digital services, stronger ICT infrastructure, and targeted regulatory measures promoting digital banking.
The report shows that digital adoption in the banking sector has been driven by both policy initiatives and market forces.
While growth was steady between 2019 and 2022, a slight moderation occurred in 2023, with adoption at 33.06 per cent, before accelerating again through 2024 and into early 2025, according to the BB report.
According to the Population and Housing Census 2022 conducted by the Bangladesh Bureau of Statistics (BBS), the adjusted population of Bangladesh stood at 169.83 million.
Bangladesh Bank in its report attributed this progress to improvements in interoperability through systems like the National Payment Switch Bangladesh (NPSB), the expansion of Bangla QR for merchant payments, and the increasing reliability of real-time settlement platforms such as BEFTN and BD-RTGS.
These developments, combined with higher smartphone penetration and expanding internet access, have made digital banking more accessible to urban and rural users alike, the report said.
The internet banking surge coincides with rapid growth in other digital channels.
Mobile financial services (MFS) have expanded to cover 54 per cent of the population by December 2024, while debit, credit, and prepaid card penetration has reached 30.11 per cent as of March 2025鈥攗p from 10.97 per cent in mid-2019.
Notably, card usage remains heavily skewed toward urban consumers, underscoring a need for targeted rural outreach.
Bangladesh Bank鈥檚 data highlights that nearly 70 per cent of the population still remains outside card-based financial services, indicating significant untapped potential.
Experts said that bridging this gap will require continued investment in infrastructure, simplified onboarding processes, and sustained public awareness campaigns.
The report also links internet banking adoption with broader financial inclusion gains.
Between 2019 and 2025, the number of female-owned deposit accounts rose from 33.4 million to 55.3 million, while female-owned loan accounts more than doubled, supported by policy tools like refinance schemes for women entrepreneurs and collateral-free credit programmes.
The regulator also mandates that 15 per cent of CMSME loans be allocated to women-led enterprises.
Internet banking鈥檚 rise has been supported by a parallel boom in agent banking, with over 85 per cent of outlets located in rural areas.
This network has been key in connecting underbanked populations to the formal financial system, allowing users to bridge from basic transactions to full-scale online banking services.
Experts say that sustaining the momentum will require addressing cybersecurity risks, enhancing consumer protection, and expanding digital literacy.
Bangladesh Bank鈥檚 roadmap includes simplifying e-KYC processes, expanding rural broadband, and encouraging innovative digital products tailored to low-income and rural customers.
