Remittance inflows reached USD 561.91 million during the second week of October, pushing the cumulative total to USD 986.63 million for the first 12 days of the month as per Bangladesh Bank data.
State-owned commercial banks (SOCBs) received USD 137.55 million from October 6-12, a significant rise from USD 108.02 million in the preceding week.
Among the SOCBs, Janata Bank harnessed USD 32.29 million during the second week, followed by USD 44.53 million by Rupali Bank. Agrani Bank collected USD 58.87 million in total over the first 12 days.
Private commercial banks (PCBs) contributed the highest share with USD 393.37 million handled from October 6-12, up from USD 300.20 million in the first five days.
Islami Bank Bangladesh PLC alone mobilized USD 122.99 million in the second week, totaling USD 228.86 million for October so far.
BRAC Bank PLC and United Commercial Bank PLC showed strong performance, collecting USD 76.82 million and USD 35.29 million respectively over the 12-day period.
Specialized banks, notably Bangladesh Krishi Bank, added USD 29.84 million in one week between October 6-12 boosting its total for the period to USD 44.85 million.
Foreign commercial banks, on the other hand, handled only USD 1.15 million during the period reflecting a marginal presence in the remittance channel.
As part of a broader pattern, Bangladesh's remittance inflows has totaled USD 6.54 billion by the end of September. However, despite the improved October performance, remittances face pressure compared to previous years.
Analysts note that stronger coordination among banks and policies encouraging formal remittance channels will be necessary to maintain momentum amid shifting economic conditions.
Banking insiders suggest that SOCBs and PCBs must focus on resolving transaction delays and refining customer services to sustain competitiveness in remittance collection. Enhanced outreach to migrant workers could also play a key role in reinforcing the inflow.
