"Twenty nine bodies have been retrieved so far while searches are underway for the missing ones," a shipping department official told reporters near the scene of the accident at suburban Munshiganj on the outskirts of Dhaka.
He, however, could not confirm the exact number of passengers onboard the double-decker MV Miraj-4 though officials and survivors earlier estimated the figure to range between 200 and 350.
The Munshiganj district administration officials said 18 of the retrieved bodies were identified and taken away by relatives.
A salvage vessel detected the ferry, weighing 110 tonnes, on the riverbed under 80 feet of water. A coastguard diver told TV channels at the scene that "many more bodies were still inside".
Also Read
Officials said they expect to get a clearer picture of casualties once the ferry is pulled out of the water.
A team of 50 divers of fire service, coastguard and navy continued to look for the missing while residents in nearby villages supplemented the rescue operation with boats.
Officials and local residents said the storm hit the ferry over an hour after it left Dhaka's Sadarghat terminal for its destination at southwestern Shariatpur.
Most of the traumatised survivors blamed the captain and overloading of the vessel for the accident.
Authorities formed a three-member panel to probe the accident and it will submit its findings in a week.
The accident came less than two weeks after another passenger ferry with over 70 people onboard capsized during a seasonal storm on the southwestern coast of Bangladesh.