Financial Daily from THE HINDU group of publications
Tuesday, Dec 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 07, 2004 |
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Money & Banking
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Private Banks ICICI Bank expects retail portfolio to grow 50 pc Our Bureau
Chennai , Dec 6 ICICI Bank expects its retail portfolio to grow between 40 per cent and 50 per cent this year. At the end of September, the bank's retail book was about Rs 40,000 crore. Half of it was from home loans. In the first half of the current year, the bank disbursed Rs 18,000 crore of retail loans, compared to Rs 11,500 crore in the corresponding period of last year, Mr V Vaidyanathan, Senior General Manager (Retail Banking), told journalists here today. The Rs 40,000-crore book was after "selling down" Rs 10,000 crore worth of loans in the securitisation market, mostly in the form of pass-through certificates. The "market leader which has a 30 per cent of the retail loan market" also finds repayments very good, with a net delinquency rate of 0.7 per cent. Mr Vaidyanathan said that the bank had 2.6 million credit card and 6 million debit card customers and was aggressively into merchant establishment acquisition. He said the bank had over 35,000 terminals across the country - in shops and other merchant establishments where the swipe machines belong to the ICICI Bank. Mr Vaidyanathan is of the view that interest rates have stabilised.
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