IFIC Bank PLC

IFIC Bank PLC, established in 1976, initially as a joint venture between the Government of Bangladesh and private sponsors, started as a finance company. In 1983, it transformed into a full-fledged commercial bank. The current ownership structure includes the government holding 32.75% of the share capital, sponsors/directors with 4.11%, and the remainder held by local and foreign institutions and general shareholders. The government is represented by three nominated directors on the bank's board, and sponsors/directors collectively hold 36.86% of the total outstanding share capital.