Semester: Fall 2013-2014 Title of the report:
Discussion about major sector in general banking activities of International Finance Investment Commerce Bank Limited
Rationale for selecting the report: IFIC Bank is one of the prominent private commercial bank of Bangladesh C!rrentl"# I am doing m" internship in the Corporate branch of the bank $s a st!dent ma%oring in $cco!nting & Finance and I am 'orking here in (eneral Banking department it gives me immense opport!nit" to learn back to back banking thro!gh the internship in IFIC Bank For m" f!t!re career# I 'o!ld like to establish m"self into the professional sector of banking in Bangladesh )ith this frame of mind# this affiliation report 'o!ld provide me sample e*perience and learn the processes of back to back banking It 'ill help me to !nderstand and materiali+e the concepts I have learned in m" BB$ program thro!gh practical kno'ledge ,verall# m" affiliation report 'o!ld compromise m" career aspirations and the !se of the concepts I have learned thro!gh the BB$ program -he selected topic 'o!ld ens!re that I get the re.!ired kno'ledge from IFIC Bank to b!ild m" career in banking Background(Discuatoin of the organization): International Finance Investment and Commerce Bank /imited 0IFIC Bank0 came in to e*istence in 1123 as a %oint vent!re bet'een the (overnment of Bangladesh and sponsors in the private sector 'ith the ob%ective of 'orking as a finance compan" 'ithin the co!ntr" and setting !p %oint vent!re banks4financial Instit!tions abroad IFIC 'as incorporated as a p!blic limited compan" 'ith an a!thori+ed capital of -k 20 core and paid !p capital of -k 10 core IFIC commenced its operation on Febr!ar" 25# 1122 'ith a 6!bscribed capital of -k 7 core# contrib!ted b" leading private sector entreprene!rs in the co!ntr" -he (overnment held 41 percent shares and the rest 71 percent 'ere held b" the sponsors and general p!blic B!t# In 1153 'hen the (overnment allo'ed banks In the private sector IFIC 'as converted Into a f!ll-fledged commercial bank -he Investment Compan" has transformed into banking compan" In 8!ne 13# 1153 and started activities from 8!ne 24# 1153 thro!gh Its 9oti%heel Branch :revio!sl" IFIC Bank /td 'as (overnment o'ned bank ;o' the government of the :eoples <ep!blic of Bangladesh holds 34 34 = of shares of the bank /eading ind!strialists of the co!ntr" o'n 34= of the shares and the rest of the 31 33 = is held b" the general p!blic -he fo!nder of IFIC Bank /td 'as 8ah!r!l Islam of Islam (ro!p of Ind!stries >e 'as the first Chairman and $ 6 F <ahman 'as first ?ice Chairman Board of @irectors of the Bank is a !ni.!e combination of
both private and (overnment sector e*perience C!rrentl" it consists of 5 @irector ,f them five represent the sponsors and general p!blic and three officials in the rank and stat!s of $dditional 6ecretar"48oint 6ecretar" represent the (overnment $t the ver" beginning the 30 percent share are o'ned b" private entreprene!r and 40 percent are o'ned b" (ovt at the end of 1154 the a!thori+ed capital 'as 10 core and the paid !p capital 'as 2crore 17 lacs -aka onl"
$nd no' 2012 paid A !p capital 3430 million taka# @eposits 12433 million taka /oan and advances 22130 million taka# gross income 13111 million taka ;!mber of Bmplo"ees 2300# ;!mber of Branches 105# ;!mber of 6hareholders 40217
Vision: C)e 'ant to be the leader among banks in Bangladesh and make o!r indelible mark as an active partner in regional banking operating be"ond the national bo!ndar" In an intensel" competitive and comple* financial and b!siness environment# 'e partic!larl" foc!s on gro'th and profitabilit" of all concerned D Mission: C,!r 9ission is to provide service to o!r clients 'ith the help of a skilled and dedicated 'orkforce 'hose creative talents# innovative actions and competitive edge make o!r position !ni.!e in giving .!alit" service to all instit!tions and individ!als that 'e care for )e are committed to the 'elfare and economic prosperit" of the people and the comm!nit"# for 'e derive from them o!r inspiration and drive for on'ard progress to prosperit" D
O !ecti"es: Broad o !ecti"e# The primary objective of this study is to attend the courses of practical orientation in IFIC Bank, /earn abo!t the banking ind!str" and also the corporate c!lt!re Specific o !ecti"e# -o make a bridge bet'een the theories and practical proced!res of banking da" to da" operations
Enderstand the real management sit!ation -o have some practical e*pos!res that 'ill be helpf!l for m" BB$ program -o identif" the present state of IFIC Bank /imited -o get an idea abo!t the financial strength of IFIC bank -o find o!t the problems e*ist in general banking department -o describe (eneral Banking and other facilities provided b" it -o provide the recommendation for improvement
Milestones in the de"elopment of $%$& Bank 'td# 1123 - Bstablished as an Investment & Finance Compan" !nder arrangement of %oint vent!re 'ith the (ovt of Bangladesh 1150 - Commenced operation in Foreign B*change B!siness in a limited scale 1152 - ,btained permission from the (ovt to operate as a commercial Bank# 6et !p its first overseas %oint vent!re FBank of 9aldives /imitedG in the <ep!blic of 9aldives FIFICHs share in Bank of 9aldives limited 'as s!bse.!entl" sold to 9aldives (ovt in 1112G 1153 - Commenced operation as a f!ll-fledged commercial bank in Bangladesh 1157 - 6et !p a %oint vent!re B*change Compan" in the 6!ltanate of ,man# titled ,man Bangladesh B*change Compan" F6!bse.!entl" renamed as ,man International B*change# //CG 1152 - 6et !p its first overseas branch in :akistan at Iarachi 1113 - 6et !p its second overseas branch in :akistan at /ahore 1114 - 6et !p its first %oint vent!re in ;epal for banking operation# titled ;epal Bangladesh Bank /td 1111 - 6et !p its second %oint vent!re in ;epal for lease financing# titled ;epal Bangladesh Finance & /easing Co /td F)hich 'as merged 'ith ;BB/ in 2002G 2003 - 6et !p a ne' Bank in :akistan# ;@/C-IFIC Bank /td F6!bse.!entl" renamed as ;IB Bank /td G and the ,verseas Branches of IFIC and a local leasing compan"# ;@/C 'ere amalgamated 'ith and into it 2007 - $c.!ired 9I6J6 sol!tion for real time online banking application and Core <isk 9anagement implemented
2002 - /a!nched ?I6$ branded Credit Card Fcompleted f!ll range of Cards i e @ebit# Credit & :repaid b" 2010G 2010 - 6et !p ,ffshore Banking Enit F,BEG 2011 - Bstablished a f!ll" o'ned s!bsidiar" e*change compan" named IFIC 9one" -ransfer FEIG /td
Organization (ierarch) in $%$& Bank 'imited# Board of Directors * &+O and Managing Director * Deput) Managing Director * Senior +,ecuti"e Vice -resent * %irst +,ecuti"e Vice -resent * +,ecuti"e Vice -resent * Vice -resent * Senior .ssistant Vice -resent * %irst .ssistant Vice -resent * .ssistant Vice -resent * Senior Staff Officer * Staff Officer * Officer /rade#$ * Officer /rade#$$ * &omputer Officer * &ash Officer * Office .ssistant
Su mitted ):
;ame of the st!dent intern: I@ ;o: 9a%or: @ate:
$ction b" the s!pervisor:
$pproved:
@isapproved:
