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A Comparative Analysis of the Rate of Interest on Deposit between Banks and

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 Journal of Islamic Finance and Business Research
Vol. 3. No. 1. March 2015 Issue. Pp. 38 – 49

A Comparative Analysis of the Rate of Interest on Deposit

between Banks and Non Bank Financial Institutions in
Bangladesh
Mohammad Yunus*, Mohammad Rokibul Kabir **
and Mohammad Afjalur Rahman***
As deposit from customer is the main source of fund for banks and non-bank
financial institutions; these two institutions have to play a significant role in
determining the interest rate at which customers are motivated to save their
money in bank or financial institutions. Changes in inflationary level also
influence interest rate by affecting the amount of spending by depositors. Thus
this study aims at finding differences of interest rate on deposits by listed banking
companies and non-bank financial institutions in Bangladesh for the year 2009 to
2013 as well as to find whether there is any relationship between interest rate
and inflation. The study is based on secondary data collected from the website of
Bangladesh Bank and Bangladesh Bureau of Statistics and website of the
sample companies. For the analysis the data of interest rates is organized month
wise against every year to compare the rate of interest among banking
companies and non-bank financial institutions (NBFIs) more precisely. The study
result revealed that the interest rate of different banking and non-bank financial
institutions differs from month to month and also from company to company. It is
found that the interest rate is given by non-bank financial institution is higher than
that of banking organizations. Study result also revealed that interest rate of
banks and NBFIs is significantly related with inflation. The study result will
facilitate bank and NBFIs to determine a competitive interest rate. Government
and Central Bank can use the issues raised in this study for better controlling and
regulating financial institutions.

Field of Research: Finance and Banking

Keyword: Rate of Interest, Banks, Non-Bank Financial Institutions, Inflation

1. Introduction
Two well functioning financial intermediaries of finance sector in Bangladesh are bank and
non-bank financial institution. The main source of fund for both types of financial institution is
the deposit from the customer in different savings and term deposit and as such the depositors
are the lenders to the bank. Since deposit from the customer is a major source of fund, it is
beyond to say that financial institutions have to play a significant role to know the factors that
influence customers' decision to deposit their money with the bank and the extent of return
(deposit or interest rate) at which customers are motivated to choose any of the financial
institution among many (Haron, 2003).
*Associate Professor, Department of Business Administration, International Islamic University
Chittagong.Cell:+88-01199201012. email:yunusiiuc48@gmail.com
**Assistant Professor, Department of Business Administration, International Islamic University Chittagong. Cell:
+880119155521. email: rakibais@yahoo.com
***Research Fellow and MBA Student of International Islamic University Chittagong. email:
m.ar_rahman@yahoo.com
 Yunus, Kabir & Rahman

The interest rate paid by the banks and non-bank financial institutions are the financing cost for
obtaining the funds (Nasir and Hafiz, 2006). To determine the rate of return to the depositor the
classes of account are categorized by different types of accounts of pre-set periodical tenor
(Erusan and Ibrahim, 2007). Deposit rate or interest rate has long been recognized as one of
the factors that determine the level of savings in the economy and the interest rate has a
positive relationship with savings. In saving decision customer are guided by ‘Profit
Maximization’ theory (Haron, 2001). In his study (Haron, 2001), the author also stated that
those who are willing to depart their money must be rewarded and different types of deposit
carry different amount of reward or return. In general, deposit accounts with longer maturity
provide greater yield to the depositor to recognize the sacrifice of depositor from present
consumption (Erusan and Ibrahim, 2007; Madura, 2008). Changes in inflationary expectations
can affect interest rate by affecting the amount of spending by depositor as decision to spend
affect the amount to be deposited to financial institutions (Madura, 2008).

Previous studies like (Kamel,2002), (Haron,2004) were concentrated only on profitability

analysis of Islamic Banks and issues related to Islamic Banking and Finance. Most of the
researches in this field in Bangladesh are conceptual based unlike (Kabir and
Chowdhury,2014) and (Kabir,Ullah & Khan,2012). Moreover, no such study is found to
compare the rate of interest on deposit by banks and NBFIs by taking all the listed banking and
non-banking companies except Islamic financial institutions over a long period of time.
However (Mortaza, 2012) tried to find a relationship between interest rate on lending and
inflation and (Teker et al. 2012) tried to find a long run relationship between interest rate and
inflation which was based on Turkey. Seeing the research gaps in conducting study including
both banks and NBFIs specially in Bangladesh to find the competitive scenario of interest rate
and to examine the effect of inflation on interest rate of deposit for both types of financial
institutions; this study attempted to analyze comparative rate of interest on deposit between
banks and non-bank financial institutions (NBFIs) listed in Dhaka Stock Exchange (DSE) from
the year 2009 to 2013.

The study covers 23 conventional commercial banks and 22 non-bank financial institutions
listed in DSE. The study tried to examine the differences between interest rate on deposit from
month to month, bank to bank, financial institution to financial institution and bank to financial
institution. Finally the study also investigated whether there is any relationship between
interest rate and inflation. The study result will facilitate public to choose a particular institution
to save their money as well provide the bank or NBFIs a basis to determine a competitive
interest rate. Government and Bangladesh Bank can use the findings of the study for better
controlling the financial sector of the country. The remaining parts of the paper are presented
as follows: The next section reviews the relevant literature. Section three describes the
objectives of the study. Section four includes the detail of research methodology employed in
this study followed by section five dealing with results and discussions of the study. The last
section includes limitations of the study, implications of the study and scope of further research
and conclusion of the study.

2. Literature Review
Most of the literatures in Bangladesh were confined to either on banking sector or financial
institution sector. Some of them tried to compare the rate of interest between conventional

39
 Yunus, Kabir & Rahman

banks, while some others investigate the comparative interest rate between Islamic Banks and
Conventional Banks. Kabir and Chowdhury (2012) conducted a comparative analysis of profit
rate on Islamic banks by taking 7 listed Islami banks in Bangladesh and found that highest
mean return for both Mudaraba term deposit and Mudaraba savings deposit are provided by
First Security Islami Bank Limited and their study also concluded that there is no significant
relationship between inflation and rate of return on Mudaraba term deposit. Another study of
Kabir, Ullah & Khan (2012) was conducted to find whether there is any difference in profit rate
on investment in Islamic banks against fixed lending rate of local conventional banks, foreign
conventional banks and state owned commercial banks in Bangladesh and found that foreign
commercial banks charges highest rate on the borrowers and there is a significant differences
in mean return between Islamic banks, local conventional banks, foreign conventional banks
and state owned commercial banks.

The study of (Hassan, 2013) was confined to examine the issues and challenges of non-bank
financial institutions in Bangladesh. Study of (Erusan and Ibrahim, 2007) emphasized to
compare the profit rate of Islamic Banks and interest rate of conventional banks in Malaysia
and stated that while no return or profit is needed to distribute to the current account holder, it
is important to fix a deposit rate for different types of saving accounts and investment accounts
in case the accounts are in the non-bank financial institutions.It has also been found that the
higher rate of interest on deposit usually attracts more saving accounts as at higher
deposit/interest rate more people will be willing to save their money ignoring their present
consumption (Erusan and Ibrahim, 2007; Favozzi et al. , 2006).

Different banks carry a different rate for deposit product and it has been observed that the
longer the maturity of a deposit, the greater the yield to the customer (Nasir and Hafiz, 2006).
Determination of deposit rate can be used as a base to shape the kind of customers any bank
can best serve and differences between interest rate of different bank and non-bank financial
institutions affect the spread between bank loan rate and deposit interest rate, customer
attraction and influences the growth and profitability of these financial institutions(kamel,2002).
Studies of (Kamel,2002),(Haron,2004), (Haron,2003) were mainly focused only on Islamic
banking and finance. The study of (Teker et al. 2012) was limited to investigating the relation
between inflation and lending rate in Turkey. A detailed analysis on interest rate on deposit in
both banks and non-banks financial an institution is absent at both home and abroad.

3. Objectives of the Study

The main objective of the study is to analyze comparative interest rate on deposit products of
listed commercial banks and non-bank financial institutions (excluding Islamic banks and
financial institutions) in Dhaka Stock Exchange from the year 2009 to 2013. The specific
objectives can be summarized as follows:

 To find the differences between interest rate from month to month in banks and non-
banks financial institutions
 To discover whether there is significant differences between rate of interest of bank and
non-bank financial institution from month to month, bank to bank and non-bank financial
institution to non-bank financial institution
 To find whether there is any significant relationship between interest rate and inflation.

40
 Yunus, Kabir & Rahman

To materialize the objectives the following hypotheses have been developed:

Hypothesis 1
Null Hypothesis: H01: There is no significant variation between interest rate on deposit in bank
from month to month.
Alternative Hypothesis: H11: There is a significant relation between interest rate on deposit in
bank from month to month.

Hypothesis 2
Null Hypothesis: H02: There is no significant variation between interest rate on deposit in NBFIs
from month to month.
Alternative Hypothesis: H12: There is a significant relation between interest rate on deposit in
NBFIs from month to month.

Hypothesis 3
Null Hypothesis: H03: There is no significant relation between interest rate on deposit in banks
and non-bank financial institutions.
Alternative Hypothesis: H13: There is a significant relation between interest rate on deposit in
banks and non-bank financial institutions.

Hypothesis 4
Null Hypothesis: H04: There is no significant relation between interest rate on deposit in banks
and rate of inflation.
Alternative Hypothesis: H14: There is a significant relation between interest rate on deposit in
banks and rate of inflation.

Hypothesis 5
Null Hypothesis: H05: There is no relation between interest rate on deposit in non-bank
financial institutions and rate of inflation.
Alternative Hypothesis: H15: There is a significant relation between interest rate on deposit in
non-bank financial institutions and rate of inflation.

4. Data and Methodology

The conducted study is empirical in nature. It aimed at analyzing comparative rate of interest
rate on deposit between banks and non-bank financial institutions.

4.1 Data

The main source of information is secondary data. Secondary data were manually collected
from the website of individual banks and non-bank financial institutions, and Bangladesh Bank
(Central Bank of Bangladesh).The population of the study is 23 commercial banks and 22 non-
bank financial institutions listed in Dhaka Stock Exchange (excluding Islami based banks and
non-bank financial institutions). The list of selected sample banks and non bank financial
institutions is provided in Appendix 1. Each sample’s data consists of five years period from
2009 until 2013.To get the most recent information and considering the availability of

41
 Yunus, Kabir & Rahman

information from the secondary sources this period has been chosen. Interest rates were
recorded for the fixed deposit of less than 2 year but greater than 1 year.

4.2 Methodology

Each sample’s data consists of five years period from 2009 until 2013. Interest rates were
recorded for the fixed deposit of less than 2 year but greater than 1 year. One sample t-test
and paired sample t-test have been conducted to test the fitted hypotheses. Data were
analyzed by ‘SPSS’ software’s version 20 and simple statistical tolls like average, mean,
percentile also used. This methodology followed in this study is almost similar to (Kabir and
Chowdhury,2014) and (Kabir, Ullah & Khan,2012), however sample size and population is
different from those.

5. Findings and Analysis

5.1 Descriptive Analysis

Since the main objective of the study is to measure and compare the interest rate on deposit of
bank and non-bank financial institution from month to month, table 2 and 3 presented with
mean and standard deviation of banks and non-bank financial institution regarding interest rate
on deposit. In table 2 descriptive statistics of the mean and standard deviation of the average
rate of interest offered by the commercial banks and in table 3 descriptive statistics of the
mean and standard deviation of the average rate of interest offered by the NBFIs has been
presented to measure the differences in interest rate offered in different months. The test result
in table 2 and 3 also facilitate to discover between banks and non-bank financial institutions,
which one is providing higher interest rate.

Table 1: Mean Return and Standard Deviation of Interest Rate on Deposit by the Banks
N Mean Std. Deviation Std. Error Mean
Interst Rate on Deposit for January 23 11.0570 .85549 .17838
Interst Rate on Deposit for February 23 11.2170 .78024 .16269
Interst Rate on Deposit for March 23 11.2543 .73820 .15393
Interst Rate on Deposit for April 23 11.3170 .73728 .15373
Interst Rate on Deposit for May 23 10.9033 .65125 .13580
Interst Rate on Deposit for June 23 10.8222 .68005 .14180
Interst Rate on Deposit for July 23 9.7370 1.08530 .22630
Interst Rate on Deposit for August 23 10.5970 .57764 .12045
Interst Rate on Deposit for September 23 10.4474 .62596 .13052
Interst Rate on Deposit for October 23 10.4243 .64244 .13396
Interst Rate on Deposit for November 23 10.4478 .61074 .12735
Interst Rate on Deposit for December 23 10.4557 .62442 .13020

The above table 1 represents with one-sample statistics for banks to see whether there is any
difference in mean return in different month. Study result on table 2 represents with mean and
standard deviation of interest rate by the commercial banks in Bangladesh. Findings show that
the maximum average return on deposit for the bank is in the month of April and the rate is

42
 Yunus, Kabir & Rahman

11.31% and the minimum average return on deposit is in the month of July and the rate is
9.73%.

The table also shows that the average rate of return on deposit fall in the range from 11.05% to
11.31% in the 1st quarter of the year and in the 2nd quarter it falls in the range from 9.73% to
10.90% and in the last quarter it falls in the range of 10.42% to 10.45%. Maximum variation
(SD=1.08530) is found in the month of July and minimum variation (SD=.57764) is found in the
month of August. We also observed that in the 2nd quarter the rate of deposit tends to
decrease and in the last quarter it tends to increase gradually, which also spread to the next
years’ first quarter. Thus it is clear that bank usually offer greater return in the first quarter, a
moderate return in the middle of the year and lower rate of return in the last quarter of the year.

Table 2: Mean Return and Standard Deviation of Interest Rate on Deposit by the
NBFIs
N Mean Std. Deviation Std. Error Mean
Interst Rate on Deposit for January 22 14.8523 1.24322 .26505
Interst Rate on Deposit for February 22 14.8523 1.24322 .26505
Interst Rate on Deposit for March 22 14.9773 1.28385 .27372
Interst Rate on Deposit for April 22 14.8750 1.18711 .25309
Interst Rate on Deposit for May 22 14.5568 1.15710 .24669
Interst Rate on Deposit for June 22 14.1364 .78197 .16672
Interst Rate on Deposit for July 22 14.0795 .79950 .17045
Interst Rate on Deposit for August 22 13.7273 .79398 .16928
Interst Rate on Deposit for September 22 13.5341 .79168 .16879
Interst Rate on Deposit for October 22 13.5795 .87419 .18638
Interst Rate on Deposit for November 22 13.5795 .87419 .18638
Interst Rate on Deposit for December 22 13.5795 .87419 .18638

The above table 2 represents with one-sample statistics for non-bank financial institutions to
see whether there is any difference in mean return in different month. The findings indicate that
the maximum average return by the non-bank financial institution is 14.97% with standard
deviation of 1.28385 is found in the month of March and minimum average return is 13.53%
with standard deviation of .79168 is found in the month of September. If we look at the
individual performance of the non-bank financial institutions in each month it can be observed
that the greater average return on deposit (13.73% to 14.97%) offered in the first and second
quarter and lower average return (13.53% to 13.57%) offered in the last quarter.

An interesting finding of the study also shows that the average return by the non-bank financial
institutions in the month of January, February (14.85%) and October, November and
December (13.57%) remained same. Maximum variation (SD=1.28385) is found in the month
of March and minimum variation (SD=.78197) is found in the month of June. The interest rate
in the first 7 months ranges from 14.0795% to 14.97% and in the later part of the year it falls in
between 13.53% to 13.57%. The findings point out that non-bank financial institutions offered
maximum interest rate on deposit in the first and second quarter and minimum interest rate in
the last quarter.

43
 Yunus, Kabir & Rahman

The study results from table 1 and 2 also indicate that non-bank financial institutions offered
higher interest on deposit than the commercial banks. While banks usually paid from minimum
9.73 to maximum 11.31% interest rate for the term deposit; in case of non-bank financial
institutions the minimum interest rate is 13.53% which is 39% higher than banks and maximum
interest rate is 14.97% which is 32.30% higher than interest rate paid by the commercial banks
to their term deposit holder.

5.2 One Sample T-test for Banks

One sample t-test for banks has been applied to test whether there is any significant variation
in mean return on deposit between different months.

Table 3: One-Sample Test for Banks

Test Value = 0
t Df Sig. (2- Mean 95% Confidence Interval of
tailed) Difference the Difference
Lower Upper
Interst Rate on Deposit
61.985 22 .000 11.05696 10.6870 11.4269
for January
Interst Rate on Deposit
68.947 22 .000 11.21696 10.8796 11.5544
for February
Interst Rate on Deposit
73.115 22 .000 11.25435 10.9351 11.5736
for March
Interst Rate on Deposit
73.614 22 .000 11.31696 10.9981 11.6358
for April
Interst Rate on Deposit
80.292 22 .000 10.90326 10.6216 11.1849
for May
Interst Rate on Deposit
76.320 22 .000 10.82217 10.5281 11.1163
for June
Interst Rate on Deposit
43.027 22 .000 9.73696 9.2676 10.2063
for July
Interst Rate on Deposit
87.981 22 .000 10.59696 10.3472 10.8467
for August
Interst Rate on Deposit
80.044 22 .000 10.44739 10.1767 10.7181
for September
Interst Rate on Deposit
77.818 22 .000 10.42435 10.1465 10.7022
for October
Interst Rate on Deposit
82.042 22 .000 10.44783 10.1837 10.7119
for November
Interst Rate on Deposit
80.304 22 .000 10.45565 10.1856 10.7257
for December

From table-3 it has been observed that the interest rate on term deposit in case of all banks
significantly differ as the table value is less than the calculated value in all the cases. Hence,
the null hypothesis for Hypothesis 1 has been rejected. Thus it can be concluded that there is
significant difference in interest rate in deposit in different month is significant.

44
 Yunus, Kabir & Rahman

5.3 One Sample T-test for Non-Bank Financial Institutions

The following one sample t-test has been conducted to test whether there is any significant
difference in mean return in different month on deposit by the non-bank financial institutions.

Table 4: One-Sample Test for NBFIs

Test Value = 0
t Df Sig. (2- Mean 95% Confidence Interval of
tailed) Difference the Difference
Lower Upper
Interst Rate on Deposit
56.035 21 .000 14.85227 14.3011 15.4035
for January
Interst Rate on Deposit
56.035 21 .000 14.85227 14.3011 15.4035
for February
Interst Rate on Deposit
54.718 21 .000 14.97727 14.4080 15.5465
for March
Interst Rate on Deposit
58.773 21 .000 14.87500 14.3487 15.4013
for April
Interst Rate on Deposit
59.007 21 .000 14.55682 14.0438 15.0698
for May
Interst Rate on Deposit
84.793 21 .000 14.13636 13.7897 14.4831
for June
Interst Rate on Deposit
82.600 21 .000 14.07955 13.7251 14.4340
for July
Interst Rate on Deposit
81.093 21 .000 13.72727 13.3752 14.0793
for August
Interst Rate on Deposit
80.184 21 .000 13.53409 13.1831 13.8851
for September
Interst Rate on Deposit
72.860 21 .000 13.57955 13.1920 13.9671
for October
Interst Rate on Deposit
72.860 21 .000 13.57955 13.1920 13.9671
for November
Interst Rate on Deposit
72.860 21 .000 13.57955 13.1920 13.9671
for December

From table-4 it can be observed that in case of all financial institutions the term deposit’s
interest rate is significantly differ as p value is significant in all the cases. It results in the
rejection of null hypothesis for hypothesis 2. Thus it can be concluded that there is significant
difference in interest rate paid by the non-bank financial institutions to the customer on term
deposit in different month.

5.4 Paired T-test for Relationship between Interest Rate and Inflation

Paired sample t-test has been applied to see whether there is significant difference between
rate of interest of banks and non-bank financial institutions, rate of interest of banks and

45
 Yunus, Kabir & Rahman

monthly average rate of inflation and rate of interest of non-bank financial institutions and
monthly average rate of inflation.

Table 5: Paired Samples Test

Paired Differences t df Sig.
Mean Std. Std. 95% Confidence (2-
Deviation Error Interval of the tailed)
Mean Difference
Lower Upper
Average Interst
Rate in Banks
Pair - -
- Average .38374 .11078 -3.71461 -3.22698 11 .000
1 3.47079 31.332
Interst Rate in
NBFs
Average Interst
Pair Rate in Banks
2.71833 .45474 .13127 2.42941 3.00726 20.708 11 .000
2 - Monthly
Inflation Rate
Average Interst
Pair Rate in NBFs -
6.18912 .48663 .14048 5.87994 6.49831 44.058 11 .000
3 Monthly
Inflation Rate

The study result on table 5 shows that there is significant relationship between average
interest rate of banks and non-bank financial institutions as p value is .000 and thus null
hypothesis is rejected for hypothesis 3. Study results also indicate that there is significant
relationship between average interest rate in banks and non-bank financial institutions with
monthly average inflation rate as p value is .000 in both the cases that results in rejection of
null hypothesis for hypothesis 4 and hypothesis 5. Thus it can be concluded that significant
relation exist between interest rate of bank and non-bank financial institutions, interest rate of
banks and inflation and interest rate of non-bank financial institutions and inflation.

6. Summary and Conclusion

This paper tried to explore the scenario of two well functioning financial intermediaries of
finance sector of Bangladesh to discover their comparative performance in providing interest
rate on deposit and to find the variation in interest rate in different month, bank to financial
institutions and to discover whether inflation and interest rate is significantly related. In this
study it is revealed that interest rate on deposit differs from month to month in bank. Banking
companies provide maximum 11.31% interest and minimum 9.73% rate. It is also found that in
the first quarter the banking companies provide higher interest rate. In case of non-bank
financial institutions monthly interest rate also differs from month to month except for the last
three months, in which interest rate remains constant at 13.5795%. Maximum 14.97% and
minimum 13.53% interest rate provided by NBFIs. NBFIs provide 32.30%-39% higher interest
rate than banks. Monthly interest rate of banks and non-bank financial institutions significantly
varies. The study result also revealed that there is significant relationship between interest rate

46
 Yunus, Kabir & Rahman

on deposit of banks and non-bank financial institutions and average interest rate of banks and
non-bank financial institutions with monthly average inflation rate.

The study adds new knowledge by supplementing the earlier researches of Kabir, Ullah &
Khan (2012) who conducted research to find whether there is any differences of profit rate on
investment of Islami banks against fixed lending rate of local conventional banks, foreign
conventional banks and state owned commercial banks in Bangladesh and found that foreign
commercial banks charges highest rate on the borrowers and there is a significant differences
in mean return between Islamic banks, local conventional banks, foreign conventional banks
and state owned commercial banks and Kabir and Chowdhury (2014) who compared the profit
rate on deposit and discovered significant differences among the islamic banks in Bangladesh.
The study was limited to compare the interest rate on deposit of listed bank and non-bank
financial institutions and also excluded Islamic banks and financial institutions. Further
research may be conducted to facilitate comparison between the interest rate of all schedule
bank and non-bank financial institutions. An in depth study on comparison of conventional
bank’s interest rate and Islamic bank’s profit rate, foreign banks and Bangladeshi banks can be
conducted.

This study has some implication too. Firstly, general public can use the findings to choose a
bank or NBFIs providing higher interest rate, to deposit their savings. Secondly, banking
companies and non-bank financial institutions may use the findings to determine interest rate
in which they will remain competitive. Government of Bangladesh and Bangladesh Bank can
use the issues raised in this study for better controlling and regulating banks and NBFIS.
Finally, Bangladesh Bank may use the findings that revealed a significant relationship between
interest rate and inflation, to formulate monetary policy. As deposit from the customer is the
main source of fund and also heart of operation for types of financial institutions, this article
recommends proper care of the deposited money of the clients and suggests fair return on
deposit and also demand attention of the policy maker in the financing sector.

References
Erusan, D and Ibrahim, H 2007, ‘An Analysis of the Islamic Banking Profit Rate and
Conventional Banking Interest Rate in Malaysia’, Retrieved from
www.internationalconference.com.my/proceeding/icber2010_proceeding/PAPER_132_Isl
amicBanking.pdf
Favozzi, FJ, Modigliani, F, Jones, FJ, Ferri, MG 2006, Financial Markets and Institutions, 3rd
edn, Pearson Education Asia, Delhi, India
Haron, S 2001, ‘Leading issues in Islamic Banking and Finance’, Journal of Islamic Banking
and Finance, vol. 20, no.1, pp. 17-32
Haron, S 2003, Performance of Islamic and Mainstream Banks in Malaysia, International
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Haron, S 2004, ‘Leading Issues in Islamic Banking & Finance’, Journal of Islamic Banking and
Finance, vol. 20, no. 1, pp. 17-32
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Asian Business Review, vol.2, no.1/2013, issue 3.

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48
 Yunus, Kabir & Rahman
Appendix 1: List of Samples
Banks
AB Bank, Bank Asia, BRAC Bank,
Dhaka Bank, Dutch-Bangla Bank,
Eastern Bank, IFIC Bank, Jamuna
Bank, Mercantile Bank, Mutual Trust
Bank, National Bank, NCC Bank, One
Bank, Premier Bank, Prime Bank,
Pubali Bank, Rupali Bank, Southeast
Bank, Standard Bank, Standard Bank,
The City Bank, Trust Bank, United
Commercial Bank, Uttara Bank.
80% of the population
View publication stats
Non-bank Financial Institutions(NBFIs)
Bay Leasing & Investment, Bangladesh Finance
and Investment, Bangladesh Industrial Finance,
Delta Brac Housing Finance Corporation,
Fareast Finance & Investment, FAS Finance &
Investment, First Lease Finance and Investment,
GSP Financial , ICB, IDLC Finance, International
Leasing & Financial Service, Industrial Promotion
& Development Company,LankaBangla Finance,
MIDAS Financing, National Housing Finance and
Investment, Phoenix Finance and Investments,
Peoples Leasing and Financial Service, Premier
Leasing & Finance, Prime Finance &
Investment , United Leasing, Union Capital,
Uttara Finance
95.65% of the population
49