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Sammilito Bank repays Tk1,040cr in three days

Sammilito Bank repays Tk1,040cr in three days
Sammilito Islami Bank logo. Photo: Collected
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Sammilito Islami Bank has returned Tk1,040 crore to 26,056 depositors in the first three days of its repayment programme, while fresh funds are also flowing into the newly merged lender as it gradually restores normal banking operations.

On Wednesday alone, 10,697 customers withdrew Tk381 crore, the highest daily payout since repayments began on September 7.

The bank paid Tk319 crore to 8,125 customers on the first day and Tk340 crore to 7,234 customers on the second. The daily payout has therefore risen for three consecutive days.

The payments correspond to withdrawal applications submitted on September 1, 2 and 3. Across those three days, 58,745 customers had applied to withdraw a combined Tk3,304 crore.

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On September 1, 18,046 customers sought Tk1,325 crore. Of them, 8,125 withdrew Tk319 crore on September 7.

Another 19,613 customers applied for Tk1,016 crore on September 2. Against those applications, 7,234 customers withdrew Tk340 crore on September 8.

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Applications rose to 21,086 on September 3, seeking Tk963 crore. Of them, 10,697 customers withdrew Tk381 crore on Wednesday.

The figures show that only part of the amount sought through withdrawal applications is actually leaving the bank.

At the same time, money is flowing back into Sammilito Islami Bank as regular transactions resume. According to bank data, it received Tk141 crore in cash and through interbank payment channels on September 7, followed by Tk195 crore on September 8 — a combined Tk336 crore over the first two days.

The bank processed 16,600 transactions on September 7 and another 16,050 on September 8, including cash and electronic transactions through RTGS, BFTN and clearing channels.

Normal transactions through individual accounts are continuing alongside the special repayment programme, according to the bank.

Sammilito Islami Bank began accepting withdrawal applications on September 1 and started making payments on 7 September.

The lender was formed through the merger of First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank and EXIM Bank after years of financial distress and severe liquidity shortages had left many customers unable to access their deposits normally.

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