Published:  02:38 AM, 02 July 2020

IBBL reaches deposit milestone

IBBL reaches deposit milestone

Islami Bank Bangladesh Limited (IBBL) has reached a milestone in the country's banking sector in terms of deposits. 8.64% of the total deposits of the banking arena now belongs to IBBL.

The amount of deposits in IBBL reached 1 lakh 24 crore taka on Tuesday. It was 94 thousand 681 crore taka in 2019. IBBL at present has 1 crore 43 lakh clients. Sonali Bank has deposits of more than 1 lakh 20 thousand crore taka.

Most of the deposits of Sonali Bank are from government sector while the deposits of IBBL are from general clients. IBBL is the first private bank in the country's banking sector to have crossed deposits of 1 lakh crore taka.

IBBL Managing Director Mahbub Ul Alam told The Asian Age, "People's idea about IBBL has become wider after the change of ownership. Nobody was discouraged to withdraw money during the coronavirus pandemic. It has broadened people's confidence on the bank. Remittances have also played a big role in increasing deposits. IBBL deposits have mounted by 5 thousand crore taka during last six months."

Mahbub Ul Alam further said that IBBL has been making the best of its efforts for the sound socio-economic progress of the country. IBBL has built up saving habit among people of all walks of life, he stated. Mahbub Ul Alam asserted that IBBL works with professionalism and integrity and this is how this bank has gained people's trust.

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