Bangladesh receives $2.44 million remittances in 22 days of March

In the first 22 days of March, remittances to the country reached $2.44 billion, reflecting fluctuations across banking channels, according to Bangladesh Bank's latest statistics revealed on Sunday.

While private banks handled the majority, state-owned banks and foreign banks showed mixed performances.

Islami Bank Bangladesh led with $400.7 million, while Trust Bank and BRAC Bank secured $154.08 million and $144.07 million respectively. Among state-owned banks, Janata Bank received $174.63 million, followed by Agrani Bank at $132.6 million.

Bangladesh Krishi Bank collected $199.28 million, making it the top performer among specialized banks. In contrast, foreign commercial banks struggled, contributing to only $4.57 million in total.

Private banks continued to dominate remittance flows as digital channels and competitive exchange rates made them preferred choices for migrant workers. Traditional state-owned banks maintained a steady inflow, but their share remained lower.

Smaller banks, including some foreign ones, saw minimal activity, underscoring a growing concentration of remittance inflows in a few key institutions.

The shifting remittance landscape highlights the increasing role of efficiency and service competitiveness. As remittances remain vital for Bangladesh's economy, policymakers and financial institutions closely monitor these trends to ensure sustained inflows and economic stability.