At least 17 others are missing.
On Tuesday, an engine-run boat sank in the Panguchhi River in Bagerhat's Morrelganj Upazila. Rescuers pulled out four bodies and rescued three others, including a child.
The Fire Service said a woman's body was spotted floating by locals at Uttar Srenikhali area, three km off the scene.
"A fire service team recovered the body on Wednesday morning. She was later identified as 22-year-old Rima Begum," said Assistant Deputy Director Sardar Masudur Rahman.
Police are yet to issue an official statement over how the trawler, with at 50 people on board, sank around 10:30 am on Tuesday.
Witnesses said heavy currents caused by another speedy vessel led to its sinking.
The fire service, coast guards, police along with the locals launched a rescue operation soon after the accident.
The rescue act is still continuing.
Morrelganj Upazila administration chief Md Obaidur Rahman said they have a list of the missing persons with them and that the rescue operation will not be called off until they are found.