IFIC Bank PLC

From the research on the IFIC Bank brand record · Commercial bank

IFIC Bank PLC (International Finance Investment and Commerce Bank) is a Bangladeshi commercial bank. It was set up in 1976 as a joint venture between the Government of Bangladesh and private-sector sponsors, to work as a finance company in Bangladesh and to establish joint-venture banks and financial institutions abroad.

When the government allowed private-sector banks in 1983, IFIC became a full commercial bank. The government holds part of its share capital and nominates directors to its board. [1]

• 1976 IFIC was set up as a joint venture between the Government of Bangladesh and private-sector sponsors. [1]
• 1983 IFIC was converted into a full commercial bank after the government allowed banks in the private sector. [1]
• 1994 IFIC set up Nepal Bangladesh Bank, a joint-venture bank in Nepal, with 50 per cent ownership. [1]
• 2023-03-28 Following a Bangladesh Bank notice, the bank changed its name to IFIC Bank PLC. [2]