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Number of millionaires increases in January-March period: Bangladesh Bank

| Updated: June 23, 2022 18:01:41


Number of millionaires increases in January-March period: Bangladesh Bank

Bangladesh has seen an increase in the number of millionaires in January to March period of 2022 despite the inflation threat fuelled by the Russia-Ukraine war and Covid-19 pandemic, according to Bangladesh Bank’s updated data.

The central bank data, made available on Wednesday, showed that the number of millionaire bank account holders stood at 1,03,597 in the first quarter (Jan-March) this year, which was 1,01,976 at the end of December 2021, reports UNB.

It means that number of millionaire bank account holders in the country increased by 1,621 in the first three months of 2022 despite the inflation threat fuelled by the Russia-Ukraine war and Covid-19 pandemic.

Economist AB Mirza Azizul Islam said that the global economy has started getting recovery with the ease of Covid-19 pandemic related restrictions.

“The wheel of industry is turning as before. Bangladesh’s economy is also turning around. The rich people became richer more during the pandemic in Bangladesh and other countries in the world,” He said.

In the January-March period of 2022, the central bank’s statistics showed that the deposits volume in the millionaire bank accounts have increased by Tk 96.47 billion. As of March 2022, the total volume of deposit in the millionaire accounts stands over Tk 6.63 trillion. It was around Tk 6.54 trillion at the end of last year.

According to the data, the number of millionaire accounts is less than one percent of the total bank accounts, which hold about 44 per cent of the total deposit.

Till March 2022, the total number of bank accounts stood at 127.3 million with a deposit around Tk 15.15 trillion.

Since 2010, the number of millionaires with an asset value worth $5 million in the country has increased at an average rate of 14.3 per cent, the highest growth recorded in the world during the period.

In Bangladesh there were only 5 millionaires in 1972. The number increased to 47 in 1975. In 1980, there were 98 millionaires. The number was 943 in 1990; 2,594 in 1996; 5,162 in 2001; 8,887 in 2006 and 19,163 in 2008.

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