IFIC Bank PLC
DDSE:IFIC4.90
BDT
0.00
(0.00%)
ISIN
BD0103IFIC07
Return %
Stock
S&P 500
1Y
-7.55
14.20
3Y
-54.06
81.12
5Y
-68.72
68.34
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- Full Time Employees
- 5,963
- Sector
- Finance
- Industry
- Major banks
- Address
- Dhaka Bangladesh
- IPO Date
- Nov 25, 2007
- Website
- ificbankbd.com
- Similar Companies
- Business
- IFIC Bank PLC is a Bangladesh-based commercial banking institution engaged in the provision of conventional commercial banking, Islamic banking, retail banking, corporate banking, small and medium enterprise (SME) financing, and capital market services. Established in 1976 as a joint-venture finance company and converted into a full-fledged commercial bank in 1983, the bank is headquartered in Dhaka, Bangladesh, with the Government of Bangladesh holding a 32.75% equity interest. The company operates through several core business segments, including Retail Banking, Corporate and Structured Finance, SME and Agricultural Credit, Islamic Banking, and Treasury Operations. Its primary products and services comprise deposit solutions, including IFIC Aamar Account, standard savings accounts, current accounts, student accounts, pension savings schemes, and fixed deposit receipts; retail and consumer lending products, including IFIC Aamar Rin (secured and unsecured personal loans), home loans, auto loans, and salary loans; corporate and commercial credit facilities, including working capital financing, project finance, syndicated loans, lease financing, and green finance; trade finance and international transaction services, including letters of credit, export and import financing, bank guarantees, and IFIC Aamar Trade digital platforms; Shariah-compliant financial products under the IFIC Islamic brand, including Al-Wadeeah current accounts, Mudaraba deposit schemes, and Bai Murabaha investment facilities; and digital and alternative banking channels, including the IFIC Aamar Bank mobile application, internet banking, debit and credit cards, automated teller machine networks, and non-resident foreign remittance services. Geographically, IFIC Bank PLC delivers financial services across Bangladesh through an extensive distribution footprint of over 180 branches and more than 1,200 uposhakhas (sub-branches). The bank also operates wholly owned subsidiaries, including IFIC Securities Limited, which provides stock brokerage, custodial, and margin lending services, and IFIC Money Transfer (UK) Limited, which facilitates cross-border remittance transactions from the United Kingdom. In recent company developments, the bank reconstituted its board of directors and senior management to strengthen corporate governance, improve asset quality, and enforce operational compliance. The institution launched and expanded its dedicated Islamic banking division, IFIC Islamic, introducing tailored Shariah-compliant deposit and financing products across its nationwide network. Additionally, the bank completed the divestment of its legacy foreign equity holding in Nepal Bangladesh Bank, deepened its nationwide financial inclusion strategy by expanding its combined branch and sub-branch network to over 1,400 service touchpoints, upgraded its IFIC Aamar Bank digital ecosystem, and entered into strategic commercial partnerships, including automotive financing collaborations, to accelerate retail credit growth.