IFIC BANK LTD

Business Type Classification:

IFIC Bank Ltd is neither a factory nor a trader. It is a licensed scheduled commercial bank and financial institution.

Company Profile:

Establishment Year: 1976 (set up as a joint venture finance company, converted into a full-fledged commercial bank in 1983)

Headquarters: IFIC Tower, 61 Purana Paltan, Dhaka, Bangladesh

Core Business Sector: Banking and Financial Services

Company Overview:

IFIC Bank PLC is a pioneering joint-venture private commercial bank in Bangladesh. It was established with the primary objective of promoting finance, investment, and commerce within the country and abroad. The bank operates under a unique partnership model where the Government of the People's Republic of Bangladesh holds approximately 32.75 percent of the shares, while the remaining shares are held by sponsors, directors, institutional investors, and the general public.

Key Financial Services:

The bank offers a wide array of financial products and services, including:

1. Retail Banking: Personal loans, savings accounts, and credit cards.

2. Corporate Banking: Project finance, working capital, and syndicated loans.

3. SME and Agriculture Banking: Tailored financial products for small and medium enterprises and the agricultural sector.

4. Treasury and Investment Banking: Capital market operations and treasury management.

5. International Trade Finance: Import and export facilitation, letters of credit, and foreign remittance services.

Network and Reach:

IFIC Bank possesses an extensive network across Bangladesh, consisting of numerous branches, sub-branches, and ATM booths. It also has a strong international footprint through joint ventures and exchange houses in countries like Nepal and the United Kingdom, facilitating global trade and remittance flow.

IFIC Bank Ltd. offers a comprehensive range of banking products and services, including:

Deposit Products:

Savings Accounts

Current Accounts

Fixed Deposit Accounts

Special Notice Deposit Accounts

Monthly Savings Schemes

Monthly Income Schemes

Foreign Currency Accounts

Islamic Deposit Products including Mudaraba Savings and Mudaraba Term Deposit

Loan Products:

Personal Loans

Home Loans

Auto Loans

Education Loans

SME Loans

Corporate Loans

Project Finance

Working Capital Finance

Trade Finance facilities such as Import, Export, and Guarantees

Syndicated Loans

Structured Finance

Islamic Investment Products like Murabaha and Ijarah

Card Services:

Debit Cards

Credit Cards

Prepaid Cards

Digital Banking Services:

Internet Banking

Mobile Banking applications such as IFIC e-Connect and IFIC AAMAR Account

SMS Banking

Remittance Services:

Inward Remittance

Outward Remittance

Other Services:

Locker Services

Treasury Services covering Foreign Exchange and Money Market Operations

Government Securities Trading