Investment Corporation of Bangladesh

Name

Investment Corporation of Bangladesh

Legal name

Investment Corporation of Bangladesh

Website

https://icb.gov.bd

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Capital Markets & Investment Services

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Investors, Nec (6799)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industries

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)

Keywords

• Capital market services
• Mutual fund management
• Portfolio management services
• Merchant banking services
• Institutional investment services

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Capital Market Investments: ICB invests in private equity, share placements, preference shares, debenture financing, equity advances, and bond investments in the capital market. It acts as a sponsor for mutual funds and provides trustee and custodian services for debenture issues, mutual funds, and securitized bonds.
2. ICB Unit Fund: ICB Unit Fund is Bangladesh's first non-government mutual fund, launched in April 1981. It provides retail and small investors with access to a diversified portfolio. For FY 2023-24, the fund declared a dividend of BDT 35.00 per unit. Unit fund investors also receive applicable tax benefits under the law.
3. Margin Loans: ICB provides margin loans to existing investment account holders for purchasing securities in both primary and secondary markets, in accordance with BSEC margin regulations. These loans are secured against quality and potential securities.
4. Term Deposits: ICB accepts term deposits from institutions and individuals at attractive interest rates and deploys these funds into profitable securities.
5. Money Market Instruments: ICB offers subordinated bonds, zero coupon bonds, and term deposits as money market instruments, providing portfolio diversification.
6. Consumer Credit Scheme: ICB launched a Consumer Credit Scheme in 2003-04 for government, semi-government, autonomous, and select private sector professionals to finance household appliances. The scheme has been temporarily suspended.
7. Corporate Financial Advisory: ICB and its subsidiary ICB Capital Management Limited provide corporate restructuring and financial advisory services to government companies seeking to list shares on the capital market.
8. Corporate Guarantee Scheme: Since 2002-03, ICB has provided corporate guarantees including bid bonds, performance bonds, and customs guarantees for businesses.
9. Lease Financing: ICB provides lease financing for capital machinery, equipment, and transportation to viable companies. Terms are customized based on the lessee's requirements.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Investment Corporation of Bangladesh is a state-owned investment corporation that operates in Bangladesh's capital market offering mutual funds (ICB Unit Fund), margin loans for securities purchases, portfolio management for five proprietary portfolios, private equity and share placement, corporate guarantees (bid/performance/customs bonds), lease financing, trustee and custodian services, and corporate financial advisory. It also accepts term deposits and issues money market instruments such as subordinated bonds and zero coupon bonds. Revenue is generated through investment returns, interest income, advisory fees, and guarantee fees.

Product overview

Investment Corporation of Bangladesh (ICB) operates as a comprehensive financial institution offering a broad portfolio of capital market and money market products and services. The core offerings include the ICB Unit Fund (Bangladesh's first non-government mutual fund launched in 1981), margin loans, portfolio management, private equity investments, corporate guarantee schemes, lease financing, and corporate financial advisory services. ICB manages five portfolios and provides trustee/custodian services. The company maintains three subsidiary companies (IAMCL, ICML, ISTCL) that extend its reach in asset management, merchant banking, and securities trading. Digital services include the ICB Mobile App and ICB Unit Lien App. The product ecosystem is structured as a unified financial services platform with capital market expertise as its primary focus, supported by money market instruments and subsidiary operations.

Differentiator

Problem solved

Functional benefit

Brands

• ICB Unit Fund: Bangladesh's first open-ended mutual fund launched in April 1981, providing balanced investment opportunities for small and medium investors.
• ICB AMCL Pension Holders Unit Fund
• ICB AMCL Unit Fund
• ICB Subordinated Bond
• ICB Zero Coupon Bond

Products and services

• ICB Unit Fund Bangladesh's first non-government mutual fund providing small and medium investors with access to balanced, professionally managed, relatively low-risk portfolios. Declared BDT 35.00 per unit dividend for FY 2023-24, with applicable tax benefits for unit holders.
• Margin Loans (মার্জিন ঋণ) Credit facilities extended to existing investment account holders for purchasing securities from primary and secondary markets, governed by BSEC margin regulations. Loans are secured against quality and potential securities.
• Portfolio Management Service (পোর্টফোলিও ব্যবস্থাপনা) Active portfolio management across five portfolios (four ICB proprietary and one unit fund portfolio) contributing significantly to capital market stability through secondary market investments.
• Private Equity and Share Placement (বেসরকারি ইক্যুইটি, প্লেসমেন্ট শেয়ার) Equity participation and share placement projects enabling private sector diversification and industrial development. ICB invests independently or through consortiums with banks and financial institutions.
• Corporate Guarantee Scheme (কর্পোরেট গ্যারান্টি ইস্যু) Guarantee services including Bid Bond, Performance Bond, and Customs Guarantee to facilitate business participation in tenders and ensure fulfillment of contractual obligations. Operational since FY 2002-03.
• Lease Financing (লিজ ফিন্যান্সিং) Capital equipment, machinery, and transportation financing for viable companies, with lease terms, rent, charges, and conditions tailored to lessee requirements.
• Corporate Financial Advisory (কর্পোরেট আর্থিক পরামর্শ) Professional financial advisory services for government companies seeking to issue shares in the capital market, including corporate restructuring and reconstruction consultation. Provided by ICB and its subsidiary ICB Capital Management Limited (ICML).
• Trustee and Custodian Services (ট্রাস্টি এবং কাস্টোডিয়ান সেবা) Trust and custodian services for debenture issues, mutual funds, and securitized bonds.
• Debenture Financing (ডিবেঞ্চার ফিন্যান্সিং) Financing through debentures for promising industries.
• Advances against Equity (ইক্যুইটির বিপরীতে অগ্রিম) Advance financing extended against equity for various projects.
• Money Market Instruments (মানি মার্কেটের সরঞ্জামাদি) Money market services including Subordinated Bonds, Zero Coupon Bonds, and Term Deposits, providing portfolio diversification at attractive profit rates for institutions and individuals.
• Fixed Deposits (স্থায়ী আমানত) Term deposit acceptance from institutions and individuals at attractive interest rates, deployed into profitable securities. Customized FDR solutions available for project loans and term loans.
• Consumer Credit Scheme (কনজ্যুমার ক্রেডিট স্কিম) Consumer credit scheme for government, semi-government, autonomous, and select private sector professionals to finance household equipment needs. The scheme has been temporarily suspended.
• Preference Shares Investment (প্রেফারেন্স শেয়ারে বিনিয়োগ) Investment in preference shares as part of ICB's diversified investment strategy.

Quantifiable outcome

• ICB Unit Fund declared BDT 35.00 dividend per unit for FY 2023-24
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• ICB Asset Management Company Limited (ICB AMCL)coreOthersICB AMCL is a subsidiary company of Investment Corporation of Bangladesh, managing ICB AMCL Pension Holders Unit Fund and ICB AMCL Unit Fund. ICB sponsors and manages this asset management subsidiary.
• ICB Capital Management Limited (ICML)coreOthersICB Capital Management Limited is a subsidiary company providing corporate financial advisory and restructuring services to companies seeking to list on Bangladesh's capital market.
• ICB Securities Trading Company Limited (ISTCL)coreOthersISTCL is a subsidiary company of ICB engaged in securities trading activities within Bangladesh's capital market ecosystem.
• Dhaka Stock Exchange (DSE)coreOthersICB operates as a major institutional investor in the Dhaka Stock Exchange, conducting primary and secondary market transactions. ICB is listed as a key link on the DSE website.
• Chittagong Stock Exchange (CSE)coreOthersICB operates as an institutional investor in the Chittagong Stock Exchange, participating in both primary and secondary market activities.
• Bangladesh Securities and Exchange Commission (BSEC)coreOthersICB operates under the regulatory oversight of BSEC, which regulates Bangladesh's capital markets including margin lending rules that govern ICB's margin loan operations.
• Bangladesh BankcoreOthersICB operates within Bangladesh's financial system under the regulatory oversight of Bangladesh Bank, the central bank.
• Financial Institution Division, Ministry of FinancecoreOthersICB is under the Financial Institutions Division of the Ministry of Finance, Government of Bangladesh. Key leadership appointments are made through the Ministry of Finance.
• Enterprise BangladeshminorGTM or Marketing PartnerICB participates in the Enterprise Bangladesh initiative, a government digital services portal that integrates ICB's information and services under the national portal.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• IDLC Finance Limited: Bangladesh's largest non-bank financial institution offering merchant banking, asset management, securities trading and corporate advisory — directly comparable to ICB across portfolio management, mutual fund and capital-market services.
• LankaBangla Securities Limited: Leading broker and asset manager on DSE/CSE with retail brokerage, margin lending, and mutual fund operations comparable to ICB's capital-market and unit-fund activities.
• BRAC EPL Investments Limited: Bangladesh-focused merchant bank and asset manager providing equity research, portfolio management and corporate advisory — competes with ICB's ICML and IAMCL subsidiaries in the same advisory and fund-management niches.
• Eastern Bank Securities (EBL Securities): Bangladesh broker-dealer offering margin lending, equity research and portfolio management to retail and institutional investors, competing with ICB's ISTCL and direct-investment businesses.
• LR Global Bangladesh Asset Management: Private mutual fund manager sponsoring several open-ended and closed-end unit funds in Bangladesh, competing head-to-head with ICB Unit Fund for retail AUM.

Broad incumbents

• Sonali Bank PLC: Largest state-owned commercial bank in Bangladesh; competes with ICB on term deposits and margin lending and shares similar Ministry-of-Finance ownership/oversight dynamics.
• Life Insurance Corporation of India (LIC): India's state-owned investment and insurance behemoth — analogous to ICB as a sovereign-controlled institutional investor with diversified equity, debt and unit-linked portfolios.
• Temasek Holdings: Singapore state-owned investment company with diversified capital-market and portfolio-management operations — comparable role to ICB within its national capital market.
• Khazanah Nasional Berhad: Malaysian sovereign wealth fund with strategic equity investments, corporate advisory and portfolio-management mandates — similar state-owned institutional-investor function to ICB.

Regional players

• Uttara Bank Securities: Bangladesh-focused broker-dealer subsidiary offering margin financing and equity trading; competes with ISTCL at the retail-brokerage layer of the same ecosystem.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@financialliteracyprogramba6178
• Xx.com/icbgovbd
• LinkedInlinkedin.com/company/investment-corporation-of-bangladesh

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Investment Corporation of Bangladesh