IFIC Bank coming with new name

The change is in the name of International Finance Investment and Commerce (IFIC) Limited, a listed company. The decision was taken at a meeting of the company’s board of directors on Wednesday.

According to company sources, the bank is now known as IFIC. Its full name is International Finance Investment and Commerce. As the name is too big, it will be changed to IFIC only. According to the new law, there will be PLC at the end of IFIC.

At the end of December 31, 2020, the company’s board of directors declared 5 percent dividend for shareholders. Its a total stock. At this time the consolidated earnings per share (EPS) is Tk 0.70. And EPS alone has been Tk 0.35.

Incidentally, IFIC Bank Limited was formed in 1976 by the Government of Bangladesh and a private entrepreneur. When the government started leaving the bank to the private sector in 1983, IFIC Bank went completely to the private sector. At present, the government owns 32.75 per cent of the bank’s shares and 4.11 percent of the remaining shares are held by entrepreneurial managers, 23.15 percent by institutional investors, 74 per cent by foreign investors and 39.25 per cent by general investors.

Sunbd/NJ