Sammilito Islami Bank continued to process deposit withdrawals through normal banking procedures on Tuesday, with 14,000 customers withdrawing a combined Tk670 crore over Monday and Tuesday.
The amount actually withdrawn was significantly lower than the total value of applications submitted during the two-day period. According to bank and Bangladesh Bank sources, 37,600 customers applied to withdraw Tk2,345 crore during those two days. The figures were reported on Tuesday, 8 September.
A senior Bangladesh Bank official said 14,000 of the applicants ultimately collected their deposits. Withdrawals increased slightly on the second day, as some customers who had been unable to visit their branches on Monday came to collect their money on Tuesday.
The official said the bank paid customers according to their requirements. The continuation of withdrawals through regular banking procedures has allowed depositors to access their funds while branch operations remain active.
Sammilito Islami Bank Managing Director Md Abedur Rahman Sikder said the number of customers actually withdrawing money was considerably lower than the number who had submitted applications. Many depositors, after observing the bank’s overall transaction situation, decided not to withdraw their funds and returned without collecting their money.
He also said customers were opening new deposit accounts at several branches. This suggests that while a significant number of depositors are seeking to access their existing savings, some customers continue to use the bank’s deposit services.
Sammilito Islami Bank was formed through the merger of First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank and EXIM Bank. The five institutions now operate under a single banking structure, with a combined network of 761 branches.
The wider volume of withdrawal requests remains substantial. Depositors of the five merged banks have submitted a total of 74,000 applications to withdraw their funds, involving claims worth Tk3,925 crore.
To support the repayment process, Bangladesh Bank provided Sammilito Islami Bank with Tk5,000 crore on Sunday. The bank subsequently sent the necessary funds from its head office to different branches on Monday morning so that customers could be paid according to their requirements.
The impact of the withdrawal process was visible at several branches in Dhaka on Tuesday. At branches in Motijheel, Paltan and Malibagh, depositors began arriving from the morning to withdraw savings they had accumulated over a long period. Many customers were able to complete their transactions through the usual procedures.
For depositors who had been waiting to access their savings, receiving the money brought considerable relief. Customers also expressed satisfaction as normal banking transactions continued at the branches.
The two-day figures show a notable gap between applications and actual withdrawals. Although 37,600 customers sought to withdraw Tk2,345 crore, only 14,000 customers collected Tk670 crore during the period. A substantial number of applicants therefore have yet to withdraw the amounts they requested.
At the broader level, the five merged banks have generated 74,000 withdrawal applications involving Tk3,925 crore. Managing these requests while maintaining routine banking services will be a significant operational task for Sammilito Islami Bank.
The bank’s ability to continue providing funds at its branches, process outstanding applications and maintain ordinary transactions will remain central to the withdrawal process. For depositors, the smooth handling of payments and continued access to regular banking services will be key indicators of how the newly formed institution manages the transition following the merger.
