NEWS & ADVICE : PERSONAL LOAN
Kochhar plans to go on expansion drive avoiding unsecured loans
By Vaibhav Aggarwal
May 1, 2009
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The largest private sector bank's chief, Chandra Kochhar who takes over as Managing Director and CEO of ICICI on Friday, plans to go on an expansion drive in the current fiscal.

"We will open 580 new branches, for which we have received the license, over the next one year," she said.

At the same time she also mentioned that the bank intends to reduce the share of unsecured loans like small personal loans, credit cards and two-wheeler loans. However the focus on home loans, car loans, corporate loans and project loan segments will continue to be strengthened by the bank.

Although she does not plan to increase its balance sheet yet lending of at least Rs 30,000 crore is expected. This amount close to the loan repayments it gets every year. "We get a lot of repayments every year, which is close to Rs 30,000 crore and even if we keep our balance sheet constant, we will do at least Rs 30,000 crore of lending, if not more," said Kochhar.

Meanwhile the bank plans to increase its current account and savings account (CASA) deposits to one-third of the total deposit base.

"The implementation of my strategy is in two phases. In the first phase, we get Casa to 32 to 33 percent and till then maintain our balance sheet as constant. After that, we grow the balance sheet but simultaneously grow the proportion of Casa to 40 percent," said Kochhar.

CASA keeps the deposit cost low for the bank while boosting the deposits.


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