"Forty-five bodies have been recovered so far...We continue to look for more," an administrative official told reporters near the scene of the accident at suburban Munshiganj on the outskirts of Dhaka.
The MV Miraj-4 with over 200 people on board capsized in high wind and rain on the Meghna river on Thursday. Fifty people swam ashore or were rescued soon after the ferry sank.
The search campaign for those missing was launched afresh today.
Bangladesh Inland Water Transport Authority (BIWTA) said the sunken ferry had capacity for 122 passengers, but according to survivors and local officials the number of passengers on board was almost double.
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"The navy have scoured all corners of the vessel as it was lifted by a crane of our salvage vessel...They don't expect to find many bodies inside," a BIWTA official said.
The salvage vessels managed to float the sunken ferry and brought it closer to the shore, allowing the divers to search inside, officials said.
Liton Hossain, a survivor, swam ashore, even as divers retrieved the bodies of his wife and eight-year-old daughter while his six-year-old son was still missing.
Survivors blamed the over-loaded ferry's captain for refusing to take shelter from a gathering storm over an hour after the vessel left Dhaka's Sadarghat ferry terminal for its destination in southwestern Shariatpur.
Authorities have formed a three-member committee to investigate the accident and submit its findings in the next seven days.
Ferry accidents are common in riverine Bangladesh, criss-crossed by some 340 rivers, particularly in monsoon period with experts blaming poorly maintained vessels, flaws in design and overcrowding for the accidents.