Pandemic boosts Internet banking | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 23, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 23, 2025
Pandemic boosts Internet banking

Banking

Shafayat Hossain
29 August, 2020, 12:00 pm
Last modified: 29 August, 2020, 01:36 pm

Related News

  • Mobile banking scam, laundering network busted in Faridpur, 5 held
  • From clay banks to digital savings: bKash reforms money management
  • Bangladesh reports 36 Covid-19 cases in 24hrs
  • Bangladesh reports one more Covid-19 death, 49 cases in 24hrs
  • Internet banking sees 5% growth in Nov as card, MFS transactions drop

Pandemic boosts Internet banking

According to the central bank’s data, in June 2020, transactions through internet banking had increased by 12.6 percent since March

Shafayat Hossain
29 August, 2020, 12:00 pm
Last modified: 29 August, 2020, 01:36 pm
Photo: Collected
Photo: Collected

The country's internet banking services have been booming amid the Covid-19 pandemic as customers have been seeking online services to protect themselves from the virus.

Banks are hoping that this new trend will encourage moving banking activities into a completely digital arena.

According to the central bank's data, in June 2020, transactions through internet banking had increased by 12.6 percent since March.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

In March, when the country diagnosed its first novel coronavirus case, internet banking transactions were Tk6,588 crore. The monthly transactions increased to Tk7,421 crore by June this year.

Bankers said people are showing more interest in having internet banking facilities as they are more practical and customers can conduct some important transactions from home or elsewhere.

Selim R F Hussain, managing director of Brac Bank, told The Business Standard, "During the pandemic, we saw a booming trend of using internet banking as the customers could not move freely because of the fear of the virus. We are trying to increase internet banking facilities."

Recently, Brac Bank announced that it will enable the self-registration system to its internet banking services using credit cards as well.

As per the Bangladesh Bank's data, from April to June, the number of internet banking users has increased by 93,560 people. And the number of total internet banking users stood at 2,742,241 at the end of June 2020.

In March, internet banking users made 18.49 lakh transactions. In June, the number of transactions increased to 22.07 lakh.

Data shows card transactions decreased around 50 percent amid the general holidays declared by the government to curb the spread of Covid-19. However, the bankers were happy because it helped them keep banking services available outside branches; which allowed them to maintain social distancing.

In April, automated teller machine transactions decreased by 44 percent compared to the previous month. In this time, point of sale transactions decreased by 68 percent.

However, e-commerce transactions increased tremendously and the trend is continuing. In March, e-commerce transactions through banks were Tk224 crore and in June they stood at Tk491 crore; which is more than double.

Mobile banking also saw an increasing trend during the pandemic. Even, in May 2020, monthly transactions in mobile banking increased to Tk47,376 crore; which is the highest monthly transactions amid the first six months of the year.

Sonali Bank Managing Director Md Ataur Rahman Prodhan said that they have increased the use of information technology in banking operations during the last five months; which had not been possible in the last five years. He identified the pandemic as the cause of the positive change.

Economy / Top News

Internet Banking / Covid -19 in Bangladesh / Coronavirus Pandemic / Economic Impact of Coronavirus / Effects of Coronavirus / Economic Effect of Covid-19 / Coronavirus impact / Online Banking / mobile banking

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • The meeting is being held at the chief adviser’s official residence Jamuna. Photo: CA Press Wing
    Signs of conspiracies by defeated forces becoming visible: CA Yunus
  • BNP Secretary General Mirza Fakhrul Islam Alamgir. File Photo: Collected
    CA will soon make formal announcement on election to eliminate all ambiguity: Fakhrul
  • Zubaidur Rahman. Photo; Courtesy
    Zubaidur Rahman appointed chairman of Islami Bank

MOST VIEWED

  • Screengrab/Video collected from Facebook
    CCTV footage shows how Air Force jet nosedived after technical malfunction
  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Why Bangladesh's capital market is poised for a bull run
    Why Bangladesh's capital market is poised for a bull run
  • ISPR clarifies crashed plane was battle aircraft, not training jet
    ISPR clarifies crashed plane was battle aircraft, not training jet
  • Photo: Syed Zakir Hossain/TBS
    Secretariat protest: 75 injured in police-protester clash over edu adviser's resignation for delaying HSC rescheduling
  • Exim Bank's former chairman Nazrul Islam Majumder being taken to court on 22 July 2025. Photo: Collected
    Will repay all money if granted bail, won’t run away, ex-Exim Bank chair Nazrul tells court

Related News

  • Mobile banking scam, laundering network busted in Faridpur, 5 held
  • From clay banks to digital savings: bKash reforms money management
  • Bangladesh reports 36 Covid-19 cases in 24hrs
  • Bangladesh reports one more Covid-19 death, 49 cases in 24hrs
  • Internet banking sees 5% growth in Nov as card, MFS transactions drop

Features

Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

1d | Panorama
Photo: TBS

Mourning turns into outrage as Milestone students seek truth and justice

21h | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

1d | Panorama
Despite all the adversities, girls from the hill districts are consistently pushing the boundaries to earn repute and make the nation proud. Photos: TBS

Ghagra: Where dreams rise from dust for Bangladesh women's football

3d | Panorama

More Videos from TBS

Govt mulls allowing trade unions with 20 workers, industry leaders warn of disorder

Govt mulls allowing trade unions with 20 workers, industry leaders warn of disorder

35m | TBS Insight
Food prices are rising due to climate change

Food prices are rising due to climate change

5m | Others
Why Do Money Exchanges Offer Higher Dollar Rates?

Why Do Money Exchanges Offer Higher Dollar Rates?

35m | TBS Programs
The medical board says that 13 people are in critical condition.

The medical board says that 13 people are in critical condition.

1h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net