NEWS & ADVICE : CREDIT CARDS
ICICI bank eyes profit from infrastructure projects
By Ankit Sharma
Oct 9, 2009
Print    Email    RSS   

Privately-owned ICICI has identified infrastructure as a key sector for its growth. The bank expects financial closure of projects amounting to Rs 150,000 crore in the next three to four months.

Expressing an optimistic view concerning infra projects at the sidelines of the seminar on micro, small and medium sized enterprises(MSMEs), the CEO and Managing director of the bank, Chanda Kochhar said "A lot of activities have come back in terms of re-starting projects. The fact that the projects are coming to financial closure indicates the sector will grow."

However, Kochhar said that the closure of core financial projects might not reflect in credit growth immediately since these were long term projects and their disbursement would take time.

The bank has approximately a million MSME customers. Kocchar said that the MSME portfolio in terms of lending was about 12,000 crore. The banks MSME loan is growing and would continue to grow, she added.

Kocchar refused to reveal the expected growth figure for the sector but said that the bank sees market share in MSME sector improving. She said that the bank was looking for specific strategies and specific products for various MSME segments.

In a recent move to mitigate losses on its credit card portfolio, ICICI announced that it would block all the credit cards in case of a default on a single one.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Guidelines to apply for a NRI Credit Card
Disputing errors in a credit report
Carnival of Indian Personal Finance Blogs #4
Internet banking: does it put your money...
Lost Your Credit Card? Here’s What You...


I want to credit carde statment this month...
my name is gaurav sharma date of birth is 23.09.1983...
HOW TO APPLY FOR CREDIT CARD
how can apply for new atm card
Please give my the status civil report against my...
50101387219 this account balance

NEWS THIS WEEK
ICICI bank introduced new mobile banking apps for its customers Sep 23, 2014
A cooperative bank introduced ATM cum Bank on wheels in Mangalore Sep 22, 2014
RBI pondering to launch more POS terminals equivalent to the issuance of debit cards Sep 18, 2014
Axis bank introduced e-surveillance at the ATMs Sep 16, 2014
Customer can make online shopping without giving credit/ debit card details Sep 15, 2014
News Archive