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
Best airline rewards credit cards in...
ICICIs latest phishing warning email
An analysis of prepaid travel cards
How Your Credit Card Can Help To Improve...
Some New Ways to Save on Your Car...


Black magic specialist in sydney | +91-9610897260
Black magic specialist in ludhiana+91-9501893254
Vashikaran experts baba ji in ludhiana+91-9501893254
Pune Hi-Profile Female Escorts 9860898978 /...
बहुत खूबसूरत 8826557186...
PUNE CALL GIRLS 09130308880 > 09860898978 PUNE...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive