IFIC Bank
IFIC Bank PLC is a private commercial bank in Bangladesh, headquartered in Dhaka. It began in 1976 as a government–private joint venture to develop finance in the country and became a full private bank in 1983. It is listed on the Dhaka Stock Exchange (ticker: IFIC). The government owns about 32.75% of the bank; the rest is held by local and foreign institutions and individual investors.
The bank offers consumer, corporate and investment banking services. In 2020, IFIC Bank reported operating income of about 8,424 million BDT, net income of about 2,864 million BDT, and total assets of about 363 billion BDT. Its headquarters are in IFIC Tower, Purana Paltan, Dhaka.
IFIC also ran a Nepalese subsidiary, Nepal Bangladesh Bank, in which IFIC held 50% since 1994. Over the years the bank faced governance and fraud-related events, including a 1998 inland-bills fraud case, a 2004 lawsuit against Beximco Holdings, irregularities in share purchases in 2007, and board changes around 2014–2015. In 2017, Bangladesh Bank allowed moving about 12.28 million USD to Nepal Bank. In 2022, IFIC sold its 40% stake in Nepal Bangladesh Bank to Nabil Bank for 4.39 billion BDT and issued 5 billion BDT in bonds to raise funds. The bank is pursuing Basel III capital plans, including 10 billion BDT from perpetual bonds and 9 billion BDT from private placement (plus 1 billion BDT from a public offer).
Contact: IFIC Tower, 61 Purana Paltan, Dhaka-1000. Hotline 09666716250. Website www.ificbank.com.bd.
This page was last edited on 3 February 2026, at 00:45 (CET).