International Finance Inv- estment and Commerce (IFIC) Bank Limited held its Annual Managers’ Conference 2011 yesterday to formulate its strategic plan for the year.

“You have to devise a well planned strategy for better performance as the global banking sector has been in downturn and under the grip of recession,” IFIC Bank Chairman Salman F Rahman told the bank officials in Dhaka yesterday.

“We’ve to face another challenge stemming from the central bank’s contractionary monetary policy,” he said.

He also criticised the bank’s mediocre performance in recent years.

“Reputation of a bank depends largely on its manpower and the leadership. But, leadership doesn’t always come from the top,” he opined.

In his introductory speech, M Abdullah, managing director of IFIC Bank, said the banking sector has recently been gripped by liquidity crisis which has also shot up the call money rate to as much as 190 per cent.

“We gathered here to formulate a strategic plan for making an adjustment between the monetary policy and the market reality,” he told the branch managers from across the country.

The bank stood 12th among the private sector banks last year in terms of performance.

News: Daily Sun/Bangladesh/25 Jan 2011