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Milestones in the development of IFIC BANK
1976 -
Established as an Investment & Finance Company under arrangement of joint venture with the Govt. of Bangladesh.
1980 -
Commenced operation in Foreign Exchange Business in a limited scale.
1982 -
Obtained permission from the Govt. to operate as a commercial Bank, Set up its first overseas joint venture (Bank of Maldives Limited) in the Republic of Maldives (IFIC's share in Bank of Maldives limited was subsequently sold to Maldives Govt. in 1992)
1983 -
Commenced operation as a full-fledged commercial bank in Bangladesh.
1985 -
Set up a joint venture Exchange Company in the Sultanate of Oman, titled Oman Bangladesh Exchange Company (Subsequently renamed as Oman International Exchange, LLC)
1987 -
Set up its first overseas branch in Pakistan at Karachi
1993 -
Set up its second overseas branch in Pakistan at Lahore
1994 -
Set up its first joint venture in Nepal for banking operation, titled Nepal Bangladesh Bank Ltd.
1999 -
Set up its second joint venture in Nepal for lease financing, titled Nepal Bangladesh Finance & Leasing Co. Ltd. (Which was merged with NBBL in 2007)
2003 -
Set up a new Bank in Pakistan, NDLC-IFIC Bank Ltd. (Subsequently renamed as NIB Bank Ltd.) and the Overseas Branches of IFIC and a local leasing company, NDLC were amalgamated with and into it.
2005 -
Acquired MISYS solution for real time online banking application
Core Risk Management implemented
2007 -
Launched VISA branded Credit Card (completed full range of Cards i.e. Debit, Credit & Prepaid by 2010)
2010 -
Set up Offshore Banking Unit (OBU)
2011 -
Established a fully owned subsidiary exchange company named IFIC Money Transfer (UK) Ltd.
2012 -
Inauguration of 100th Branch at Tejgaon-Gulshan Link Road in Dhaka
2013 -
Achieved the landmark of Tk 10,000 Crore deposit
2014 -
Launching of IFIC Mobile Bank
2015 -
Crossed the landmark of Tk 20,000 crore in Foreign Trade business
2016 -
Inauguration of IFIC Tower at 61 Purana Paltan, Dhaka.
2017 -
Launched an innovative product IFIC Aamar Account, combining benefits of current & saving accounts, FDR, credit cards etc.
Became market leader in Home Loan product under retail banking segment.
Introduced One Strop Service model in the branches for the first time in Bangladesh.
Bank's Mission
Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make our position unique in giving quality service to all institutions and individuals that we care for.
We are committed to the welfare and economic prosperity of the people and the community, for we derive from them our inspiration and drive for onward progress to prosperity.
Bank's Vision
At IFIC, we want to be the preferred financial service provider through innovative, sustainable and inclusive growth and deliver the best in class value to all stakeholders.
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