Play store
State-owned Bangladesh Krishi Bank has emerged as the country’s top remittance-collecting bank, receiving US$441.68 million in inward remittances in June, as Bangladesh posted a record US$35.59 billion in remittance inflows during the 2025-26 fiscal year.
According to the latest data from Bangladesh Bank, the country’s remittance receipts in FY2025-26 reached the highest level ever recorded in a single fiscal year, marking a 17.35 percent increase from US$30.33 billion received in the previous fiscal year.
The central bank’s data showed that Krishi Bank collected the highest amount of remittances among all scheduled banks in June, overtaking several leading private commercial banks that had traditionally dominated the sector.
Islami Bank Bangladesh PLC ranked second with US$349.29 million, followed by Agrani Bank PLC, which collected US$325.80 million. Other major remittance recipients included Trust Bank PLC, BRAC Bank PLC, Eastern Bank PLC (EBL) and United Commercial Bank PLC (UCB).
Banking sector insiders attributed Krishi Bank’s strong performance to its expanding overseas exchange house and agent banking network, faster fund disbursement, improved customer services for expatriates and government initiatives encouraging remittances through formal banking channels.
They also noted that the government’s 2.5 percent cash incentive on remittance sent through legal channels has continued to play a significant role in diverting flows away from informal hundi networks.
Bangladesh received US$2.819 billion in remittances in June, down 18.11 percent from US$3.442 billion recorded in May. However, compared with June of the previous year, the inflow remained broadly stable, declining by only 0.12 percent.
Economists say the record remittance inflow has provided significant relief to Bangladesh’s economy by strengthening foreign exchange reserves, easing pressure on the US dollar market, financing import payments and improving liquidity in the banking sector.
Officials at Bangladesh Bank said the expansion of overseas exchange houses, increased use of digital remittance services and quicker payment mechanisms have strengthened expatriates’ confidence in formal banking channels, encouraging more migrant workers to avoid illegal money transfer systems.
Country-wise data showed that Saudi Arabia remained the largest source of remittances during FY2025-26, contributing US$5.85 billion. It was followed by the United Kingdom with US$5.70 billion, while the United Arab Emirates ranked third with US$4.58 billion. Malaysia and the United States were the fourth and fifth largest sources respectively.
Regionally, Dhaka Division received the highest amount of remittances in June, accounting for US$1.476 billion, or 52.36 percent of the month’s total inflows. Chattogram Division ranked second with US$799.39 million, followed by Sylhet Division, which received US$225.2 million. At the district level, Dhaka topped the list, followed by Chattogram, Cumilla and Sylhet.
Economists observed that remittances not only bolster foreign exchange reserves but also stimulate rural consumption, support small businesses, generate employment and increase household spending on education, healthcare and housing. They also play a crucial role in maintaining the country’s current account balance and overall macroeconomic stability.
They stressed that sustaining the current momentum would require making formal remittance channels more convenient, curbing illegal hundi transactions, expanding Bangladeshi exchange house operations abroad, strengthening digital remittance services and improving banking facilities for expatriate workers.
With Bangladesh recording an all-time high in annual remittance inflows and Krishi Bank emerging as the country’s leading remittance-collecting bank in June, analysts view the development as a positive signal for both the banking sector and the broader economy. They believe the country could set another remittance record in the current fiscal year if the shift toward formal channels continues.
