ICICI Banks’ next target is the corporate sector. With over 700 billion dollars to be invested by corporates in the next three years, ICICI Bank expects its lending to the sector to grow faster than 35 percent.

"On corporate side we will grow faster than the industry. We will grow at least by 35 percent," ICICI Joint Managing Director Chanda Kochhar said. "I think the investment pipeline, which we estimate to be about USD 700 billion, will be the growth engine for GDP, for the banking sector in general and particularly for ICICI Bank. Half of these investments is manufacturing and half infrastructure," she added.

According to this proposal, assuming a debt-equity ratio of 1:1, a sum of USD 350 billion is required as credit over the next three years of which ICICI Bank is eyeing to corner a large part.

"Our involvement will be large as traditionally we have been a project finance company. However, not all of it will be on our balance sheet as a major part of it will be through syndication with other banks," she said.

Corporate and international business of ICICI together comprises 32 percent of its total loans and advances. A dominant share of 58 percent is held by Retail, while the remaining was debt to SMEs and agriculture.

"Earlier, we were riding only one engine of growth (retail) for five to six years which was growing upwards of 30-35 per cent. Now, we have an additional engine of growth (corporate)," she said. "Investments in projects are being planned. We have not seen anybody withdrawing. Implementation period has also become shorter," she added.