BRAC Bank has crossed 700 milestone by opening 705 Agent Banking Outlets as rapid network expansion drive across the country continues.
It now serves 1.40 lac unbanked people mostly in rural and semi-urban parts of the country as the channel’s rural penetration hits the industry highest at 77%. Agent Banking Channel carries out over 186,000 transactions worth over BDT 1,600 Crore per month.
Commenting on the milestone, BRAC Bank’s Managing Director and CEO Selim R. F. Hussain, said: “The vision of BRAC Bank is to bring the unbanked segment of the people under formal financial umbrella. Agent Banking will play an enabling role in bringing in a large population who are presently out of formal banking services through this inclusive banking model.”
From account opening, to cash withdrawal, availing loan to EMI payment, remittance service, utility bill payment – Agent Banking Outlets are now the place to go for the local people for any day-to-day banking.
Close proximity and variety of services make the outlets center point of financial solutions in rural Bangladesh. All services available in branches are also served at agent banking outlets.
The customers can also avail any account opening including DPS and FDR, daily transactions, transfer funds, foreign remittance, corporate bill collection, credit card bill, payments of insurance premiums, SME loan disbursement & repayment collection, retail loan lead generation and many more services.