The IFIC Bank PLC is a first-generation Bangladeshi private commercial bank.[1][2][3] Currently it is having largest banking network in the country with more than 1,400 branches and uposhakhas.It has joint ventures and subsidiaries in Nepal, Oman and the UK.IFIC Bank PLC is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and Sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the People's Republic of Bangladesh holds 32.75% of the share capital of the Bank. Sponsors/Directors having vast experience in the field of trade and commerce own 4.11% of the share capital and the rest is held by Institutions both local & foreign and General Shareholders. The Government is being represented by three nominated Directors on the Board of the Bank and as such, the present combined shareholding of the Sponsors/Directors are 36.86% of the total outstanding share capital of the Bank.
