Accelerates toward remittance leadership driven by five years of strong growth
BRAC Bank has achieved a major milestone surpassing USD 2 billion in remittance inflows in 2025, a press release said.
The bank is on a strong growth trajectory in the remittance market, rising from the 17th to the 4th position in the past five years.
The bank has solidified its position as the country’s most preferred provider of foreign remittance services. The bank’s Year-on-Year momentum – from USD 427 million in 2020 to USD 1,605 million in 2024 – demonstrates both business consistency and rising customer confidence. Its strategy centres on digital transformation, innovative customer-driven solutions, and the reinforcement of formal remittance channels, which are vital to the country’s economic stability.
Remittances remain one of the country’s most critical economic pillars, contributing significantly to foreign currency reserves and supporting millions of households. Responding to this national priority, BRAC Bank has invested in a modernised remittance ecosystem that prioritises speed, transparency and accessibility for Non-Resident Bangladeshis (NRBs) and their families.
Instant eKYC-enabled global onboarding has been a key driver of this growth. NRBs can now open BRAC Bank accounts remotely within minutes, gaining immediate access to secure, regulated and convenient channels. This simplified entry point has encouraged a shift away from informal networks and strengthened formal remittance participation.
BRAC Bank’s introduction of the Probashi Virtual Savings Account has further elevated BRAC Bank’s digital leadership. By enabling customers to directly access Astha, BRAC Bank’s digital banking platform, NRBs and their families can carry out deposits, transfers to any bank or mobile wallet in Bangladesh, bill payments, mobile recharges, fixed deposits, DPS, and secured loans in a single consolidated interface. This seamless experience has accelerated formal channel adoption across global remittance corridors.
To support families in Bangladesh who rely on overseas income, BRAC Bank has developed two purpose-built savings solutions: the Probashi Poribar Savings Account and the TARA Probashi Poribar Savings Account. These products offer structured financial security through competitive annual interest rates, monthly interest disbursements and comprehensive insurance coverage.
Probashi Poribar accountholders receive 3% annual interest and life insurance coverage up to BDT 5 lakh, while TARA Probashi Poribar customers enjoy 3.5% annual interest, life insurance coverage up to BDT 2 lakh, and an annual health insurance benefit of up to BDT 50,000. Together, these benefits reinforce long-term financial resilience for migrant households and enhance the overall value proposition of formal remittance banking.
In 2025, BRAC Bank expanded its international remittance network by partnering with 10 leading exchange houses across Australia, Malaysia, Japan, Singapore, Canada, the United States and the United Kingdom. These strategic alliances have significantly contributed to the recent rise in remittance inflows. With these partnerships, the total number of BRAC Bank partners exceeds 80 across the globe. This strategic move enhances financial services for Bangladeshi wage earners abroad, ensuring secure and seamless money transfers.
The bank’s expanding network ensures easy cash withdrawals at 305 branches & sub-branches, and 1,117 Agent Banking outlets nationwide. Additionally, expatriates can email probashi@bracbank.com to open accounts, including Probashi, NFCD, FD, DPS, and NRB bond purchases.
Reflecting on BRAC Bank’s commitment to the remittance sector, Tareq Refat Ullah Khan, Managing Director and CEO, said: “BRAC Bank remains deeply committed to supporting expatriate Bangladeshis with secure, transparent and convenient channels that uphold the value of their hard-earned income and strengthen financial security at home. The robust growth in international remittance inflows continues to bolster foreign exchange reserves of the country.”
Md. Shaheen Iqbal, CFA, Deputy Managing Director and Head of Wholesale Banking, added: “The bank’s rise in the remittance market reflects sustained investment in innovation, simplified onboarding and solutions aligned with the evolving needs of migrant workers and their families. This upward trajectory signals BRAC Bank’s continued emergence as a future-focused and nationally significant remittance institution.”
As BRAC Bank achieves its USD 2 billion milestone for 2025, the institution continues to build a stronger, more inclusive, and more secure remittance ecosystem, reinforcing both its market leadership and the financial resilience of the Bangladeshi diaspora it serves.
