Deposits in banks marked a 20.32 percent rise in the past one year, thanks to the central bank’s policy support that encouraged savings, remittance inflow and discouraged unnecessary spending on credit.

Data released by the Bangladesh Bank (BB) showed that the total deposit in the banking sector soared to Taka 5,39,568.67 crore in the end of December 2012, which was 20.32 percent higher than the deposit of Taka 4,48,442.63 crore at the end of 2011.

“The deposit increased due mainly to effective monitoring on banking sector supported by flexible monetary policy and new loan rescheduling guideline,” BB Governor Dr Atiur Rahman told BSS.

He also attributed the achievements to the banks for their inclusive financial activities like agro-financing, SME financing and lending to women entrepreneurs and eco-friendly projects.