Crore-taka bank accounts edge down by 719 in March quarter

The number of bank account holders with deposits of at least Tk1 crore in the country declined by 719 at the end of the first quarter of this year, after a rise at the end of the previous year, according to Bangladesh Bank data.

Industry insiders suggest the reduction might be linked to ongoing anti-corruption efforts by the interim government. With investigations targeting former Members of Parliament, ministers, and other influential figures, and numerous bank accounts being scrutinised or frozen, many large depositors appear to be withdrawing their funds out of fear. This has consequently led to a decrease in bank accounts held by wealthy individuals and major corporations.

The central bank data shows that at the close of December 2024, the total number of bank accounts across the country stood at approximately 16.32 crore, with a total deposit balance of Tk18,83,711 crore. By the end of March this year, the total number of accounts had increased to approximately 16.57 crore, and the total deposit balance rose to Tk19,23,504 crore.

This indicates a three-month growth of approximately 25 lakh in total bank accounts and a Tk39,793 crore increase in total deposits.

However, the central bank's figures specifically for accounts holding over Tk1 crore tell a different story. While there were 1,22,081 such accounts at the end of December 2024, this figure dropped to 121,362 by the end of March 2025, marking a decrease of 719 accounts in three months.

Despite the fall in the number of accounts, the total value of deposits within such accounts increased. In December 2024, these accounts collectively held Tk7.75 lakh crore. By March 2025, such amounts had grown to approximately Tk7.84 lakh crore, representing an increase of Tk8,653 crore over the three-month period.

Officials at the Bangladesh Bank clarified that an account holder with deposits of at least Tk1 crore does not necessarily belong to an individual. The list includes numerous institutional accounts in addition to personal ones. 

Furthermore, there is no limit on the number of bank accounts an individual or institution can open, meaning a single entity or person may possess multiple such accounts, including various government institutions and agencies.

Historically, the number of accounts with Tk1-crore deposits in Bangladesh has seen significant growth. According to data from the Bangladesh Bureau of Statistics (BBS), there were only 5 such accounts in 1972 following independence. 

The figure rose to 47 in 1975; 98 in 1980; 943 in 1990; 2,594 in 1996; 5,162 in 2001; 8,887 in 2006; and 19,163 in 2008. 

By December 2020, the number reached 93,890, further increasing to 109,076 in December 2021, 109,946 in December 2022 and 1,16,908 in December 2023.