Credit card transactions within the country have witnessed significant growth, reaching a total of BDT 4,089 crore in August. This figure represents an increase of BDT 945 crore, or 30.03 percent, compared to the same month of the previous year, when transactions stood at BDT 3,144 crore. However, transactions in August experienced a 5.44 percent decline compared to the preceding month of July. These insights were revealed in a recently published report by Bangladesh Bank.
According to the central bank, the trend of transacting through digital channels instead of physical cash is steadily increasing, leading to an expanded use of credit, debit, and prepaid cards. Domestically, the highest amount of credit card expenditure in August—totaling BDT 1,969 crore—was recorded in department stores, accounting for 48.14 percent of total domestic transactions. In comparison, spending in this sector was BDT 2,176 crore in July, which represented 50.31 percent of total transactions.
Bangladesh Bank data indicates that 93.37 percent of total domestic credit card expenditures in August were utilized for purchasing goods and services, while cash withdrawals accounted for 6.43 percent. The central bank report noted that increased card usage in department stores is primarily driven by everyday grocery and commodity purchases, promotional offers by banks, and a wider acceptance of cards at retail outlets.
Meanwhile, Bangladeshis spent approximately BDT 987 crore abroad in August using credit, debit, and prepaid cards issued within the country. Of this total international expenditure, BDT 505 crore was transacted via credit cards, BDT 422 crore through debit cards, and the remaining amount through prepaid cards.
