One of the deceased was identified as Fazlul Haque, a 78-year-old freedom fighter from Bogura district. Identities of other victims are yet to be established.
The accident occurred around 7.30 am on Bangabandhu Bridge West Link highway.
"The Mymensingh-bound bus ferrying passengers from Bogura crashed into the truck coming from the opposite direction this morning," said officer-in-charge of Bangabandhu Bridge West Police Station, Mosaddek Hossain.
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The impact of the collision was such that five people were killed on the spot, while 23 others sustained injuries, he said.
Those injured were immediately rushed to 250-bed Bangamata Sheikh Fazilatunnesa Mujib General Hospital. "Of the 23 injured, seven people are said to be in a critical condition," the officer said.
The bodies have been sent to the local hospital morgue for autopsy.
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Road accidents in Bangladesh
Road accidents are one of the leading causes of deaths in Bangladesh, as 37,170 people were killed in 26,902 accidents across the country in the past five years.
In January 2021 alone, as many as 484 people were killed and 673 injured in 427 road accidents across Bangladesh -- a 25.58% rise year-on-year, according to Road Safety Foundation (RSF).
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At least 445 lives were lost in 340 road accidents in January last year, RSF said on Saturday.
WB Report on road safety
As per a World Bank report, published in February 2020, Bangladesh needs to invest an estimated extra $7.8 billion over the next decade to halve its road crash fatalities.
The report attributed the high death rate on Bangladesh roads to a chronic lack of investment in systemic, targeted, and sustained road safety programmes.
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The annual road crash deaths per capita in Bangladesh are twice the average rate for high-income countries and five times that of the best-performing countries in the world, it said.
Children and the working-age population are most affected by road crash injuries in Bangladesh, the World Bank report added.