TO IFIC BANK LIMITED

Company Type:

IFIC Bank Limited is neither a factory nor a trader. It is a licensed private commercial bank and financial services provider.

Company Profile:

Company Name:

IFIC Bank Limited (International Finance Investment and Commerce Bank Limited)

Headquarters:

Dhaka, Bangladesh

Year of Establishment:

1976 (established as a joint venture finance company, converted into a full-fledged commercial bank in 1983)

Ownership Structure:

It is a public limited commercial bank where the Government of the People's Republic of Bangladesh holds 32.75% of the shares, while the remaining 67.25% are held by sponsors, directors, institutions, and the general public.

Core Business and Services:

As a leading financial institution, IFIC Bank provides a comprehensive range of banking services, including:

- Retail Banking (savings accounts, home loans, personal loans, and credit cards)

- Corporate Banking (project finance, working capital, and trade finance)

- SME Banking (financial solutions for small and medium enterprises)

- Treasury and Investment Banking

- Digital and Mobile Banking Services

Business Operation Scale:

The bank operates one of the largest networks of branches and sub-branches across Bangladesh, focusing heavily on financial inclusion and bringing modern banking services to both urban and rural populations.

Summary:

IFIC Bank Limited is a premier financial institution in Bangladesh. It plays a vital role in the country's economic development by facilitating trade, business growth, and personal finance, rather than engaging in manufacturing (factory) or physical goods merchandising (trader).

IFIC BANK LIMITED in Bangladesh offers a comprehensive range of banking products and services. These include various deposit schemes such as Savings Accounts, Current Accounts, Fixed Deposit Receipts, Monthly Savings Schemes, Monthly Income Schemes, and Special Deposit Schemes like the Millionaire Scheme and Double Benefit Scheme.

For lending, they provide Personal Loans, Home Loans including IFIC Abashon and Home Equity Loans, Auto Loans through IFIC Gari Loan, and professional-specific loans like Doctor's Loans and Executive Loans.

The bank also offers a variety of cards, including Visa and Mastercard Debit Cards and Credit Cards (Classic, Gold, Platinum).

Digital banking services are a key offering, encompassing Internet Banking (IFIC E-Banking), Mobile Banking through the IFIC Mobile App, and SMS Banking.

For businesses, IFIC Bank provides SME Banking solutions with Working Capital Loans, Term Loans, Project Finance, and Trade Finance services such. Corporate Banking clients can access Term Loans, Working Capital Loans, Project Finance, Syndicated Loans, Cash Management Services, and Treasury Services.

International trade finance services include import services like Letter of Credit opening and bill collection, export services such as pre-shipment and post-shipment finance, and bill negotiation or collection. They also facilitate both inward and outward remittance services.

Additional services include Locker Services, ATM services, and Agent Banking which allows for account opening, cash deposits and withdrawals, fund transfers, utility bill payments, and remittance processing through their agent network.