Internet banking transactions exceed Tk 10,000 crore in March

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The volume of internet banking transactions increased by 57.42% or Tk 3,783 crore in March, as the Covid-19 epidemic prompted many bank customers to get used to the digital mode of banking transactions.

The volume of transactions through online banking services stood at Tk 10,371.1 crore in March 2021 compared to Tk 6,588.0 crore in the same month of the previous year, according to the latest data from the Bangladesh Bank.

The transaction value in March was the highest after the introduction of internet banking.

The amount of transactions in January and February was 8,543.4 Tk crore and 8,477.3 Tk crore respectively.

People began to rely heavily on online banking after the start of the Covid-19 epidemic in the country on March 8, 2020 and the subsequent imposition of restrictions on public travel to control the spread of the viral infection .

Customers today enjoy access to a wide range of banking services anytime and anywhere by logging into banks’ online platforms or installing specific apps on their smartphones.

Among the services accessible through online banking services.

Besides the increase in transaction value, the number of Internet banking customers has also increased significantly over the past year.

In March 2021, the number of Internet banking customers stood at 34,772,072 with an increase of 31.08% year-on-year.

Faced with the Covid epidemic, most banks introduced mobile banking applications, WhatsApp banking services and online account opening platforms in 2020.

The next four to five years of digital banking development have already been completed in one year, due to the global pandemic, said a senior official at a major bank.


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