Bangladesh’s remittance inflow structure has experienced a major shift this year. Between January and November, Bangladesh Krishi Bank has emerged as the second-highest remittance collector. Islami Bank retains the top position and Agrani Bank follows in third place.

Although Islami Bank and Agrani Bank have long maintained dominance in the remittance sector, Krishi Bank’s sudden rise has captured wide attention. Its extensive branch coverage, uninterrupted service during the pandemic and continued improvement in customer service played a central role in this achievement.

According to data from the central bank published by national media, the country received 2,958 crore USD in remittances during the first 11 months. Among this, 10 banks were responsible for 2,063 crore USD, nearly 70 per cent of the total. Islami Bank collected 553 crore USD, Krishi Bank 277 crore USD and Agrani Bank 265 crore USD. Following them were Janata Bank (197), BRAC Bank (191), Trust Bank (160) and Sonali Bank (145). Rupali, City and Pubali banks collected 110, 84 and 79 crore USD respectively.

Krishi Bank has the largest branch network in the country with 1,038 branches and five sub-branches. Previously, many banks and mobile financial service providers used this network to distribute remittances. After Ali Hossain Prodhania became Managing Director in ২০১৮, the bank signed agreements with multiple international money transfer organisations, turning its infrastructure into a more profitable resource.

In addition, cooperation with NGOs allowed them to deposit collected funds into any branch without fees, increasing liquidity in rural branches. During the pandemic, Krishi Bank kept all branches operational, improving customer trust significantly. To strengthen services in northern areas, Rajshahi Krishi Unnayan Bank was appointed as a sub-agent.

During the foreign exchange shortage, Krishi Bank was tasked by the government with opening letters of credit for essential imports, raising its monthly foreign currency settlement to 20–25 crore USD. This boosted revenue from foreign exchange operations, which reached 700 crore taka in the previous fiscal year. The target for the current year is 1,000 crore taka.

Savings schemes designed for expatriates have attracted deposits of 220 crore taka. Despite losing 6,513 crore taka in 2023–24 due to agricultural loans, the bank is working to reduce its losses through increased foreign currency earnings.

Major inflows to the bank come from Merchantrade, followed by Instant Cash, Ria Money, CBL Money, NBL Money, Western Union, NEC Money, Home Remit and EZ Remit.

General Manager Mustafizur Rahman said the bank’s widespread rural network is its strongest asset. Customers now receive their remittances directly into their accounts, settled around the clock through the central bank.