Number of Millionaire Accounts in Bangladesh Banks Drops by 719, Deposits Increase

03 June, 2025 : The number of millionaire accounts in Bangladesh's banking sector has declined. According to a recent Bangladesh Bank report, as of March 2025, the number of accounts with deposits exceeding one crore taka stands at 121,362, a decrease of 719 accounts compared to December 2024, when the figure was 122,081.

Analysts suggest that following the interim government’s assumption of power, several bank accounts of former MPs, ministers, and leaders have been frozen or summoned on corruption charges. This has created apprehension among large depositors, prompting many to withdraw funds from banks for safety reasons. As a result, while the number of millionaire accounts has decreased, the deposit amount in some accounts has increased.

According to Bangladesh Bank data, the total deposits in millionaire accounts were 7.75 lakh crore taka in December 2024. By March 2025, this amount rose to 7.83 lakh crore taka, an increase of 8,653 crore taka in three months.

Overall, the banking sector has seen an increase in the number of accounts and total deposits. In December 2024, the total number of bank accounts was 16 crore 32 lakh 47 thousand 532, which increased to 16 crore 57 lakh 68 thousand 821 by March 2025. During the same period, total deposits grew from 18.83 lakh crore taka to 19.23 lakh crore taka. This represents an increase of approximately 24.60 lakh accounts and 39,793 crore taka in deposits over three months.

Central bank officials clarified that not all millionaire accounts are individually owned. These accounts include those of government and private institutions, as well as multiple accounts held by individuals. Therefore, a reduction in the number of accounts does not necessarily indicate a decrease in the number of individual millionaires.

According to the Bangladesh Bureau of Statistics (BBS), in 1972, there were only 5 millionaire account holders in the country. This number increased to 47 in 1975, 98 in 1980, 943 in 1990, and 19,163 in 2008. By the end of 2020, the figure stood at 93,890, rising to 116,908 in December 2023. In December 2024, it reached 122,081, but dropped to 121,362 by March 2025.

Analysts believe that while political instability and anti-corruption measures have led to a decline in millionaire accounts, the overall increase in accounts and deposits may indicate growing confidence in the economy.

AI/MR