Financial Performance Analysis of IFIC Bank Limited

Abstract

IFIC Bank Limited is one of the reputed and leading private commercial Banks in Bangladesh. The Bank started its journey in 1976 as a joint venture. After that, in 1983, the government allowed banks in the private sector. IFIC was converted into a commercial bank. Now, their service level is in the leading position. This bank is now providing all modern banking service to their clients and customers that meet the actual satisfaction of the customer. However, they always keep updating their banking system and improving service qualities. Also, IFIC Bank Ltd. has various types of deposit and loan services to its client and customers that grows day by day, according to their annual report. This shows that they are giving the best general and credit banking services to their clients and customers. On the other hand, they provide the services of foreign exchange to their clients. IFIC Bank Ltd. Always takes great initiatives and fixes a target to every branch even department to increase their profit and the results are seen in the annual report of the bank. The recruitment of officials is perfect. IFIC Bank has strong strategic management to improve the level of performance. The investment and the liquidation of cash are getting low year by year which indicates the cash incapability of the bank. In this report, I cover the IFIC's financial performance analysis and general banking activities. Ratio analysis (liquidity ratio, profitability ratio, Debt ratio, and other ratios) . The general banking division of IFIC Bank Limited is quite important. Within the wholesale banking business, with the purpose of meeting customers’ banks product requirements. On the other hand, operating expenses are very high. The salaries, wages or remunerations of the bank officials, stuff are high. IFIC Bank Ltd. are practicing CSR which increasing the reputation and goodwill of the bank. Last of all, if IFIC Bank wants to raise more profit, they must increase their profit and reduce their operating expenses and cost.