Banks under pressure to pay clients

Banks are experiencing an additional pressure in paying clients as depositors are withdrawing money more than any normal time apparently out of fear for any lockdown due to coronavirus outbreak, reports UNB.

“We had to pay almost double to clients on Thursday compared to previous days,” Nizamuddin, assistant general manager (AGM) and in-charge of the Jatiya Press Club branch of state-owned Agrani Bank Ltd, told the news agency.

He said they faced the similar pressure on Sunday, the first working day of the week.

Another official of the branch located adjacent to Bangladesh secretarial said they normally release about Tk 25 million every day.

But the branch had to pay about Tk 50 million each on Thursday and Sunday, he added.

The same experience was shared by Maksud Hossain, assistant general manager of Janata Bank at the Bidyut Bhaban branch on Abdul Gani Road.

He said many people have been withdrawing additional money from Thursday last.

Maksud said his branch has arranged hand sanitiser, masks and gloves for the bank staff as per instructions of Bangladesh Bank.

Officials of other banks in Motijheel, the commercial hub of the country, shared the same experience, saying people are withdrawing additional money more than the normal period.

They, however, said though people are withdrawing money from banks, there is no liquidity crisis as the central bank has made adequate fund to meet the growing demand.

An official of City Bank, a leading private bank, said they have been following the Bangladesh Bank’s instructions to maintain safety and hygiene in dealing with clients.

About the pressure of money withdrawal, he said their bank is also facing the same.