IFIC Bank celebrates 50th anniversary

IFIC Bank PLC celebrated its 50th founding anniversary with a programme, titled “Golden Jubilee Celebration”, at the IFIC Tower in Dhaka yesterday.

Md Mehmood Husain, chairman and independent director of the bank, inaugurated the celebrations as the chief guest, according to a press release.

Tap here to add The Daily Star as a trusted source

Addressing the gathering, Mehmood said the bank’s five-decade journey marked a significant milestone in Bangladesh’s banking sector, but sustaining the achievement amid growing competition would be an even greater challenge.

Meeting evolving customer needs requires renewed emphasis on good governance, effective management and modern banking services, he said, adding that the bank’s ongoing reform and modernisation initiatives were progressing in the right direction.

He expressed optimism that employees’ collective commitment and concerted efforts would help IFIC strengthen its position as a more resilient financial institution.

Syed Mansur Mustafa, managing director of the bank, said customer trust and affection remained the greatest achievement of IFIC’s five-decade journey.

“Fifty years is more than a passage of time; it is a remarkable story shaped by the aspirations of countless individuals, enduring relationships, and collective dedication,” he said.

Mustafa said the bank aimed to make a meaningful difference in people’s lives and nurture trust across generations, ensuring that IFIC remained a symbol of reliability for the next 50 years and beyond.

Founded on October 8, 1976, IFIC Bank has remained associated with Bangladesh’s economic progress, striving to make banking services more accessible.

The government holds a 32.75 percent stake in the bank, which serves more than 2.5 million customers through over 1,400 branches and sub-branches nationwide.

With a deposit portfolio exceeding Tk 550 billion, the bank provides financial services across urban centres and remote communities, seeking to expand financial inclusion and support the country’s economic development.

Md Ebtadul Islam, chairman of the risk management committee and independent director; Kazi Md Mahboob Kasem, chairman of the audit committee and independent director; and Md Golam Mostofa, chairman of the executive committee and director of the bank, also attended the programme.