TDS Desk:

Islami Bank Bangladesh PLC has showcased remarkable resilience, achieving a 5% growth in deposits year-on-year as of December 2024.

Despite challenges in the banking sector, the bank has firmly established its position as a trusted institution among depositors and investors.

The financial statement of Islami Bank revealed deposits amounting to approximately Tk1.61 lakh crore in December 2024, compared to Tk1.54 lakh crore in December 2023.

Investments also saw an increase, rising from Tk1.50 lakh crore in 2023 to Tk1.59 lakh crore in 2024.

December 2024 proved to be a record-breaking month for remittances, with the bank receiving around Tk681,00 crore—approximately one-third of the country’s total remittances for the month.

Islami Bank continues to lead the private sector in import and export finance, recording Tk648,00 crore in import financing and Tk324,00 crore in export financing for 2024.

Currently serving 2.5 crore customers, the bank’s expansive network of 400 branches, 265 sub-branches, 2,800 agent banking outlets, and 3,000 ATM/CRM booths underscores its commitment to reaching every corner of the nation.

A branch manager, speaking anonymously, assured, “Customers can withdraw money from branches without interruption. There are no complaints about liquidity issues, and cash transactions are operating normally.”

The bank’s RTGS (Real Time Gross Settlement) system has also remained fully operational, ensuring smooth and timely money transfers.

RESILIENCE AMID CHALLENGES

Despite the liquidity challenges faced by the banking sector in August 2024, Islami Bank has managed to recover swiftly.

Governor of the Bangladesh Bank Dr Ahsan H Mansur recently commended the bank’s important role in the country’s economy, stating, “Islami Bank is the number one bank in the country. It has turned around within the shortest time and is moving forward smoothly. This bank will not look back anymore.”

Dr Shah Md. Ahsan Habib, a professor at the Bangladesh Institute of Bank Management (BIBM), attributed the bank’s resilience to its deep grassroots connections and the strong social networks of its employees.

He highlighted the role of small depositors, saying, “In the context of Bangladesh, small depositors are the assets of a bank. Islami Bank, with its vast network, has successfully gained the trust of these depositors.”

LEADERSHIP AND ACHIEVEMENTS

Islami Bank’s Chairman, Md Obayed Ullah Al Masud, affirmed the institution’s consistent leadership in the private banking sector.

He revealed that Bangladeshi expatriates remitted $26.89 billion in 2024, with Islami Bank facilitating 21.47% of this, equivalent to remittances from 163 countries.

The top remittance-sending nations included Saudi Arabia, the USA, the UAE, Malaysia, Singapore, Qatar, Italy, and Kuwait.

“Our 5% deposit growth in 2024 compared to 2023 is a testament to the confidence people have in us. Islami Bank will only continue to move forward,” Masud stated confidently.

The bank’s contributions to the economy are vast, with investments in over 6,000 industries, support for 20 lakh entrepreneurs, and employment opportunities for 1 crore people.

Besides, its small investment schemes have benefited 18 lakh marginal families, further cementing its role as a driver of socio-economic development.

As the leading private sector bank in Bangladesh, Islami Bank’s robust performance, grassroots connections, and unwavering customer trust place it firmly on the path to continued success.