BRAC Bank achieves milestone of opening 700 agent banking outlets

BRAC Bank has achieved a milestone of opening 700 agent banking outlets.

It now serves 1.4 lakh 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 Tk 1,600 crore per month, said a press release.

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, it 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,” said Selim RF Hussain, managing director and CEO of BRAC Bank, while commenting on the milestone.