The number of bank accounts holding deposits of over Tk 1 crore declined by 719 in March due to poor business environment in the country.
According to Bangladesh Bank data, the number of such accounts fell by 719 in the March-end quarter, dropping to 1,21,362 from 1,22,081 in December 2024.
Earlier in June 2024, the count stood at 1,18,784 and in September of the same year, it was 1,17,127.
After the political shift in August 2024, depositors withdrew funds due to concerns over governance, financial stability and revelations of corruption in the banking sector.
The restructuring of several banks鈥� boards further fueled apprehension, leading to a decline in high-value accounts.
Besides, many businesses entirely or partially shut down their firms amid political instability and poor business environment in the country.
Economic conditions have also played a role in this trend. High inflation, a volatile foreign exchange market and limited investment opportunities have led losses in business.
The majority of bank accounts in Bangladesh hold relatively small amounts.
Out of the total 16.57 crore bank accounts nationwide, 12.42 crore contain deposits of less than Tk 5,000 each.
In contrast, accounts holding over Tk 1 crore represent only 0.073 per cent of the total but account for approximately 41 per cent of the aggregate deposits.
At the end of March, total deposits in the banking sector stood at Tk 19.23 lakh crore.
Of this, Tk 7.8 lakh crore was held in accounts containing more than Tk 1 crore.
Among these, 1,922 accounts each contained deposits exceeding Tk 50 crore, collectively holding over Tk 2.73 lakh crore.
However, the continued rise in high-value accounts over the years reflects growing financial concentration.
From December 2018 to December 2021, the number of accounts with balances exceeding Tk 1 crore increased from 75,563 to 1,01,976, a trend that has persisted despite economic fluctuations.
Experts suggested that persistently high inflation had contributed to the decrease in such accounts.
According to Bangladesh Bureau of Statistics data, inflation had remained high 鈥� above 9 per cent 鈥� since March 2023 and was 9.05 per cent in May, driven by rising costs of essential commodities.
While the rise in deposits may indicate a degree of financial stability, it also highlights growing inequality, as a small fraction of account holders controls a significant share of the banking sector鈥檚 wealth, while most accounts hold minimal funds.