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: info@ificbankbd.com
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
Established

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

1980
Commenced operation

Commenced operation in Foreign Exchange Business in a limited scale.

1982
Set up its first

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
full-fledged commercial

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

1985
Set up a joint venture Exchange Company

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

Set up its first overseas branch in Pakistan at Karachi

1993
Set up its second overseas

Set up its second overseas branch in Pakistan at Lahore

1994
First joint venture in Nepal

Set up its first joint venture in Nepal for banking operation, titled Nepal Bangladesh Bank Ltd.

1999
Second joint venture in Nepal

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 Offshore

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
Established a fully

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

2007
Inauguration of 100th Branch

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

2010
Set up Offshore Banking

Set up Offshore Banking Unit (OBU)

2011
Subsidiary Exchange

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

2012
Inauguration of 100th Branch

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

2013
Achieved the landmark

Achieved the landmark of Tk 10,000 Crore deposit.

2014
Launching Mobile Bank

Launching of IFIC Mobile Bank

2015
Crossed the landmark

Crossed the landmark of Tk 20,000 crore in Foreign Trade business.

2016
IFIC Tower

Inauguration of IFIC Tower at 61 Purana Paltan, Dhaka.

2017
Innovative product

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
IFIC Home Loan outstanding crossed the amount BDT 2,911.40 crore

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