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
RBI Dy. Governor rejects the possibility...
Know if you are in CIBIL’s list of...
How to protect credit card from getting...
Know the Reasons for Rejection of a Credit...
Importance of reviewing your credit report


Samadhan +91-7827738197 LOVE VASHIKARAN SPECIALIST...
Samadhan +91-7827738197 LOVE VASHIKARAN SPECIALIST...
Samadhan +91-7827738197 LOVE VASHIKARAN SPECIALIST...
6070930045365665 ATM pin
ChAnDiGaℛh escorts services O9855660911~ CaℒL...
Amritsar Escorts Services 09872495586 , Escort...

NEWS THIS WEEK
New Credit Card for Football lovers by IndusInd bank Jan 30, 2015
A Regional Rural Bank Rolled out Junior Rupay Debit ATM cards for students Jan 29, 2015
Banks opened 58.37Lacs account successfully under PMJDY in Bengaluru Jan 28, 2015
SBI with Ezetap launched Chota ATMs in Kerala Jan 27, 2015
SBI bank to pay a compensation of Rs 3lacs to a senior citizen Jan 23, 2015
News Archive