Chennai: ICICI Bank has announced that it aims to grow its retail loan disbursement in Tamilnadu by over 40 per cent to Rs 13,000 crore in FY19. It states that all segments of retail loans, such as consumer loan, home loan, other allied agri loans are set to grow at a rapid pace.
The bank claims that it will achieve this by rapidly expanding its consumer loans portfolio – personal and auto – as well as home loans. In FY19, the bank envisages to grow its disbursement of consumer loans by nearly 50 per cent to Rs 5,000 crore and its home loan disbursement by nearly 40 per cent to Rs 3,700 crore.
“Retail consumer loans witnessed significant growth in Tamilnadu over the last couple of years. With robust growth in the economy of the State, this fiscal too, we see the potential of increasing the retail loan disbursement by 40 per cent to Rs 13,000 crore. We are focusing on personal, auto and home loans to grow in the State,” said, executive director, ICICI Bank, Anup Bagchi.
“We are significantly leveraging upon the bank’s digital prowess to offer innovative services through our digital channels. We are actively exploring opportunities within the IT and manufacturing hubs of the State,” Bagchi added.
A release from the firm stated that within the home loans portfolio, the bank is focusing on the affordable housing segment and is expanding its presence across tier two and three markets like Agalur, Erode, Hosur, Karur, Thanjavur and Nagercoil.