City Bank–bKash nano loan disbursements cross Tk10,000cr
The City Bank–bKash Digital Nano Loan service has surpassed Tk10,000 crore in total disbursements since its commercial launch in December 2021, City Bank announced in a press statement.
The service has facilitated over 3.19 crore transactions, providing loans to 35 lakh bKash app users. On average, each borrower has availed the short-term loan more than nine times, underscoring robust demand and repeat use for small-ticket credit, the statement added.
Currently, more than 1.2 crore eligible bKash customers can access the facility, many of whom previously had little or no access to formal bank credit. Qualified users can secure loans via the bKash app in under a minute, eliminating the need to visit a bank branch or submit paperwork.
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Nearly one lakh customers receive digital nano loans through the app each day. The average loan size stands at around Tk3,000, with monthly disbursements reaching Tk900 crore.
Borrowers primarily use the loans to meet urgent financial needs, including small-business expenses, household costs, medical emergencies and education-related expenditure, according to the statement.
City Bank reported that Tk53 crore, or 0.5% of the total amount disbursed, has become non-performing or has been written off.
Managing Director and Chief Executive Officer Mashrur Arefin of City Bank said, "At a time when rising non-performing loans remain a major concern for Bangladesh's banking sector, the portfolio quality of small-ticket digital lending has reached an enviable level. This experience offers valuable lessons and inspiration for the entire banking industry."
