About Us

IFIC Profile

International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and Sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the People's Republic of Bangladesh, now, holds 32.75% of the share capital of the Bank. Directors and Sponsors having vast experience in the field of trade and commerce own 8.33% of the share capital and the rest is held by Institutions both local & foreign and General Shareholders.

Corporate Profile
 

Name of the Company
International Finance Investment and Commerce
Bank Limited (IFIC)

Off-shore Banking Unit (OBU)
IFIC Bank Limited - OBU
Federation Branch, FBCCI Building, 60 Motijheel C/A, Dhaka
Legal Form
IFIC Bank Limited was incorporated in Bangladesh and
registered with the Registrar of Joint Stock Companies
& Firms as a public company limited by shares
Auditors
Howladar Yunus & Co., Chartered Accountants
Company Registration Number
C-4967, Dated: 08 October 1976
Legal Adviser
Ahsanul Karim
Authorized Capital
BDT 40,000.00 million
Tax Consultants
Adil & Associates
Paid up Capital
BDT 14,726.13 million
Credit Rating Agency
Credit Rating Agency of Bangladesh (CRAB) Limited
Listing Status
Listed with Dhaka Stock Exchange Ltd. (DSE) and
Chittagong Stock Exchange Ltd. (CSE) in 1986 and
1997 respectively
Chairman
Salman F Rahman
Vice Chairman
Ahmed Shayan Fazlur Rahman
 
Market Category
‘A’ Category
Managing Director & CEO
M Shah Alam Sarwar
Tax Payer Identification Number (TIN)
135055865054
Head of ICC
Ashim Chowdhury
VAT Registration Number
19081167140
Chief Financial Officer
Dilip Kumar Mandal, FCA
Business Identification Number (BIN)
000136288
Company Secretary
Md. Mokammel Hoque, FCS
Subsidiary Companies
IFIC Securities Limited
IFIC Money Transfer (UK) Limited
No. of Employees
2,556
Registered Office
IFIC Tower, 61 Purana Paltan
GPO Box : 2229, Dhaka-1000
IP Phone No.: 09666716250 (Hunting)
Fax: 880-2-9554102, Swift: IFIC BD DH
E-mail: [email protected]
Website: www.ificbank.com.bd
No. of Branches
148
No. of Shareholders
41,721
Investors’ Relation
IFIC Tower (17th Floor)
61 Purana Paltan, Dhaka-1000
Hotline: 09666716250

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.

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.

In an intensely competitive and complex financial and business environment, we particularly focus on growth and profitability of all concerned.

Integrity: Upholding integrity in all that we do, always, everywhere.

Fairness: Striving to offer the best to our customers equitably with transparency.

Innovation: Encouraging and nurturing creativity.

Commitment: Committed to excellence in customer service and maximization of stakeholders’ value through teamwork.

  • To strive for sound business growth by ensuring customer satisfaction through quality and timely services
  • To manage and operate the Bank in the most efficient manner to ensure achievement of goals
  • To maintain adequate capital flow to support further growth
  • To ensure effective and efficient risk management for sustainable business growth
  • To diversify loan portfolio through structured finance and expansion of Corporate, SME, Agri and Retail businesses
  • To mount state-of-the-art technologies and adopt innovative ideas for financial inclusion
  • To groom human resources for serving customers efficiently
  • To increase brand visibility by creating positive image of the Bank S To be a trend-setter in serving the society and remain responsive to the environment S To ensure sound corporate governance practices
  • To facilitate mobility in banking by up-gradation of Internet and Mobile Banking S To add value for all stakeholders.

Milestones in the development of IFIC BANK

1976
Establishment of the Company

Established as an Investment & Finance Company under arrangement of joint venture with the Govt. of Bangladesh.

1980
Foreign Exchange Business

Commenced operation in Foreign Exchange Business in a limited scale.

1982
First Overseas Joint Venture

Obtained permission from the Govt. to operate as a commercial Bank. Setting up of 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
Full-fledged Commercial Banking

Commenced operation as a full-fledged commercial bank in Bangladesh.

1985
Joint Venture Exchange Company

Setting up of a joint venture Exchange Company in the Sultanate of Oman, titled Oman Bangladesh Exchange Company (Subsequently, renamed as Oman Exchange LLC).

1987
First Overseas Branch

Setting up of its first overseas branch at Karachi in Pakistan.

 
1993
Second Overseas Branch

Setting up of its second overseas branch at Lahore in Pakistan.

 
1994
First Joint Venture in Nepal

Setting up of its first joint venture in Nepal for banking operation, titled Nepal Bangladesh Bank Limited.

1999
Second Joint Venture in Nepal

Setting up of its second joint venture in Nepal for lease financing, titled Nepal Bangladesh Finance & Leasing Co. Limited (Which was merged with NBBL in 2007).

2003
NDLC-IFIC Bank Limited

Setting up of a new Bank in Pakistan, NDLC-IFIC Bank Limited (Subsequently renamed as NIB Bank Limited and which was again merged with MCB Bank Limited in 2017) and the Overseas Branches of IFIC and a local leasing company, NDLC were amalgamated with and into it.

2005
MISYS solution for Online Banking

Acquired MISYS solution for real time online banking application. Core Risk Management implemented.

2007
VISA branded Credit Card

Launched VISA branded Credit Card (completed full range of Cards i.e. Debit, Credit & Pre-paid by 2010).

2010
Off-shore Banking Unit

Setting up of Off-shore Banking Unit (OBU).

2011
IFIC Money Transfer (UK) Limited

Established a fully owned subsidiary exchange company named IFIC Money Transfer (UK) Limited.

2012
100th Branch of the Bank

Inauguration of 100th Branch at Tejgaon-Gulshan Link Road in Dhaka.

2013
BDT 10,000 Crore plus in Deposits

Achieved the Landmark of BDT 10,000 Crore in Deposits.

2014
Mobile Banking Service

Launching of IFIC Mobile Bank.

2015
BDT 20,000 crore plus in Foreign Trade Business

Crossed the Landmark of BDT 20,000 Crore in Foreign Trade Business.

2016
IFIC Tower, a symbol of dignity!

Inauguration of IFIC Tower at 61 Purana Paltan, Dhaka.

2017
One Stop Service Model

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.

2018
BDT 2,911.40 crore plus in Home Loan

IFIC Home Loan outstanding crossed the amount BDT 2,911.40 crore. Aamar Account balance stood at BDT 1,456.49 crore with a total of 99,399 nos. Accounts.