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
Disputing errors in a credit report
RBI Dy. Governor rejects the possibility...
The ABN AMRO One Card
Must have add-ons for luxury car insurance
Petro Cards 101: A detailed guide


please sent me statement ref.nbr EV14269394542
what is mini statement?????????? how to create an...
how can i can transfer money from sbi to citibank.i...
my a/c is thr wth sbi. i hv my debit card bt hv not...
@~09780560514~@ Call GiRls In ludhiana EsCoRt In...
Which indian bank support AVS (address verification...

NEWS THIS WEEK
Yes Bank may enter credit card business soon. Oct 21, 2014
New multicurrency card of KVB bank Oct 20, 2014
Federal Bank bagged excellence banking award Oct 17, 2014
Customers with large account balance will get unlimited free ATM transcations: SBI Oct 15, 2014
Hud Hud Cyclone crippled the Banking service in Vishakhapatnam Oct 14, 2014
News Archive