Dhaka, Bangladesh, Sept. 8 -- The overall deposit growth in Bangladesh's banking sector increased further in July while the net sales of national savings certificates (NSCs) dropped drastically.

All the scheduled banks' deposit growth stood at 12.47 per cent year-on-year as of July 31, up from 11.48 per cent a month ago. It was 10.96 per cent as of March 28 this calendar year.

Excluding inter-bank balance, all banks' deposits rose to around BDT 12 trillion as of July 31 from BDT 11.81 trillion a month ago. The figure was BDT 11.20 trillion as of March 28.

"Some savers are now switching over to banks from savings certificates along with higher growth of inward remittance helped pushing up the deposit growth further in the banking sector...