This is how SWIFT/ BIC code is constructed.
| Characters | Meaning | Assigned by |
|---|---|---|
| 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.