The number of bank accounts holding Tk1 crore or more in Bangladesh rose by 5,077 in the second quarter of the year, even as economic activity and the business environment remained subdued.
Bangladesh Bank data showed that the number of such accounts reached 141,562 at the end of June, up from 136,485 three months earlier. The number stood at 134,044 at the end of December last year.
The rise in high-value accounts came alongside growth in both the overall number of bank accounts and deposits during the April-June period.
The total number of bank accounts increased by more than 3.77 million to 186.38 million at the end of June, compared with 182.61 million at the end of March.
Meanwhile, deposits across the banking sector grew by Tk524.19 billion over the three-month period. Total deposits stood at Tk22.10 trillion at the end of June, compared with Tk21.58 trillion at the end of March.
The combined deposits in accounts containing Tk1 crore or more also increased during the quarter. Their balance rose by Tk164.98 billion to Tk8.76 trillion at the end of June from Tk8.59 trillion at the end of March.
The central bank data, however, do not indicate that the number of wealthy individuals increased by the same amount. Accounts with deposits of Tk1 crore or more can be held by businesses, organisations, government agencies and individuals.
In addition, a person or organisation may maintain multiple accounts, while government institutions and agencies can also have accounts meeting the Tk1 crore threshold. Therefore, the number of such accounts is not equivalent to the number of individual millionaires.
