Bangladesh Bank reported on Sunday total workers' remittances for the first 14 days of September 2024 reached $1,167.20 million.
The data shows significant contributions from State-Owned Commercial Banks (SOCBs), private commercial banks and foreign commercial banks, highlighting a robust inflow.
According to Bangladesh Bank's latest statistics among the SOCBs, Agrani Bank PLC led in remittance inflow, receiving $ 189.28 million. It was followed by Janata Bank PLC with $ 49.34 million and Rupali Bank PLC with $ 35.82 million. These state banks collectively accounted $ 297.27 million, reinforcing their role in facilitating remittance flows.
Specialized banks also played a vital role, with Bangladesh Krishi Bank receiving $ 49.98 million, contributing $49.98 million.
Notably, no inflows were reported by Rajshahi Krishi Unnayan Bank (RAKUB).
Islami Bank Bangladesh PLC led among private banks with a big margin with $ 240.35 million, City Bank PLC followed with $ 72.59 million, Trust Bank Ltd with $ 82.50 million, indicating the increasing role of private banks in handling remittances.
Foreign commercial banks played a smaller yet consistent role, with Standard Chartered Bank leading with $ 2.36 million, HSBC received $0.34 million, Citibank NA with $ 0.05 million.
September figures reflect steady inflows of remittance driven by both public and private banks. The data serves as a positive indicator for the country's foreign exchange reserves.
