Bank deposits decline in July-September

Deposits in Bangladesh's banking industry dropped nearly 1.0 percent during the July-September 2024 period, the first quarter of the fiscal year 2025, compared to the preceding quarter, according to Bangladesh Bank statistics.

The total deposit liabilities decreased by Tk 134.98 billion, or 0.73 percent, in July-September 2024 from the April-June 2024 quarter.

Breaking it down by bank type, deposits in private banks declined by 0.33 percent , state-owned banks by 2.59 percent, specialized banks by 0.43 percent , and foreign banks by 0.41 percent. The total deposits stood at Tk 18.253 trillion at the end of the quarter under review.

Industry insiders attributed the decline primarily to a lack of depositor confidence, citing instances where some banks failed to return funds to depositors.