News Desk : dhakamirror.com
Krishi Bank has shown remarkable success in collecting remittances from expatriates during the first eight months of 2025 (January–August).
Known as bank for farmers due to its agricultural loan services, this state-owned institution has climbed to the third position in remittance collection from abroad in that timeframe.
This notable achievement has been highlighted in a recent Bangladesh Bank report on remittances, which underscores the bank’s growing role in facilitating the flow of expatriate funds to the country.
According to sources at the Krishi Bank, this achievement in remittance collection is part of a continuous improvement process. In 2023, the state-owned bank was in the 15th position for remittance collection.
Last year, it rose by eight notches to the seventh position. In the current year, it is now in third place. In January alone, the bank collected USD 116 million in remittances, which increased to USD 301.9 million by August.
Altogether, from January to August this year, Krishi Bank collected USD 1.98 billion in remittances, accounting for about 13 per cent of the total remittances received in the country during this period.
The total remittances received in Bangladesh from January to August amounted to USD 21.45 billion or approximately USD 2,145 crore.
Since its establishment, Krishi Bank has primarily focused on agricultural loans. However, in 2018, it began efforts to increase its capacity in remittance collection. Gradually, the institution’s remittance income grew.
From 2018 to 2021, Ali Hossain Prodhania served as the bank’s chairman. He is currently a supernumerary professor at the Bangladesh Institute of Bank Management (BIBM) and chairman of NRB Commercial Bank.
When asked, Ali Hossain Pradhania told Prothom Alo, “Krishi Bank had a huge opportunity to collect remittances, but previously it could not fully utilise it.”
“Around 2018, the bank used to receive only USD 500,000–700,000 per month. At that time, we started working with the world’s largest remittance-collecting institutions. We contacted branches that could not collect remittances to encourage them,” he added.
Subsequently, branch managers and officials of the bank also took initiatives to increase remittances. The combined efforts have now placed Krishi Bank among the top five banks in remittance collection.
Three of the top five are state-owned
Of the total remittances received in the country by August this year, nearly half came through the top five banks. These five banks accounted for 49 per cent of the remittances during the first eight months.
Among them, three are state-owned banks—Krishi Bank, Agrani Bank, and Janata Bank—and two are private banks—Islami Bank and BRAC Bank. The top five banks are ranked as follows: Islami Bank (1st), Agrani Bank (2nd), Krishi Bank (3rd), Janata Bank (4th), and BRAC Bank (5th).
From January to August, the top five banks together received USD 10.5 billion (BDT 1,050 crore) in remittances. Of this, the three state-owned banks collected USD 5.46 billion (BDT 546 crore).
Of which, the three state-owned banks—Agrani, Krishi, and Janata—collected 25 per cent of the total remittances received in the country over the past eight months.
According to Bangladesh Bank, compared to January, there has been a change in ranking among the top five remittance-collecting banks in August.
In January, Sonali Bank, a state-owned bank, held the second position, collecting USD 179.3 million in remittances. By August, it fell to the seventh position with remittances of USD 117.5 million. Krishi Bank overtook Sonali Bank to secure the third position in August.
On Krishi Bank’s success in remittance collection, its General Manager Mostafizur Rahman told Prothom Alo, “This success is the result of our efforts since 2018. Our biggest strength is our network of over 1,000 branches across remote areas of the country. Previously, customers had to visit the bank to send remittances.”
“Now, with agreements with mobile financial services like bKash and Nagad, as well as various money exchange houses, customers can access these services from home. As a result, expatriates are increasingly choosing Krishi Bank to send money quickly to their families,” he added.
Meanwhile, BRAC Bank, a private bank, was in third place in remittance collection in January, with USD 162.7 million. By August, it declined to USD 158.7 million, moving from third to fifth place.
According to Bangladesh Bank, Islami Bank has consistently topped in remittance collection. In January, it collected USD 282.3 million in remittances, which increased to USD 555.8 million by August.
Banking sector insiders say that Islami Bank has a stronger presence than any other bank in Bangladeshi worker-dominant countries, including the Middle East. For this reason, this Shariah-based bank receives the highest response from Bangladeshi expatriates.
According to Bangladesh Bank data, Bangladesh received USD 24.22 billion in remittances in August 2025, compared to USD 22.24 billion in August 2024, marking a growth of nearly nine per cent year-on-year.
However, banking transactions were disrupted during the first week of August last year due to student and public protests and a change in government.
Banking sector insiders say the high growth in remittances has had a positive impact on the country’s foreign currency reserves. The increase in remittances has also helped ease the dollar shortage.
The government’s strict measures against illegal money transfers and incentives to send remittances through legal channels have played a major role in the growth of remittances.
– Input from Prothomalo was used in this article.
