This is how SWIFT/ BIC code is constructed.
|First 4 [1-4] (Required)||Bank Code||Issued by SWIFT|
|Next 2 [5-6] (Required)||Country Code||ISO Country Code standard|
|Next 2 [7-8] (Required)||Location Code||Issued by SWIFT in consultation with country|
|Next 3 [9-11] (Optional)||Branch Code||Decided by the individual Bank|
SWIFT ( Society for Worldwide Inter-bank Financial Telecommunication ) is basically a society that assigns a unique code i.e. BIC ( Bank Identification Code ) code to a bank which is an identity of that bank in the foreign market/ world. Sometimes we refer this BIC code as SWIFT code.