NEWS & ADVICE : PERSONAL LOAN
Kochhar plans to go on expansion drive avoiding unsecured loans
By Vaibhav Aggarwal
May 1, 2009
Print    Email    RSS   

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.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
How to decide on a loan for business?
Getting the best rates on your personal...
Carnival of Indian Personal Finance Blogs #2
An Insight into Lending Rate Changes
Effect of employment on loan eligibility...


are my name in cibil difaulter list please confirm....
I want checking my loan status my personal loan...
I want to close my Personal Loan Account...
MY PAN CARD AEAPA6099R HOW TO CKECK PERSONNEL LOAN...
I want to know weather my name is listed in cibil...
HOW CAN I REMOVE MY NAME FROM CIVIL RECORD

NEWS THIS WEEK
SBI bank tied up with RML services LTD Jul 18, 2014
New Service for NRI by ICICI bank Jul 17, 2014
BOI expanded its customer base Jul 14, 2014
PSU banks helping upcoming Bank – Bandhan Jul 11, 2014
Overseas banking of Bank of Baroda Jul 10, 2014
News Archive