KOCHI: ICICI Bank is planning to grow its retail loan portfolio in Kerala by 20 percent to Rs 3,100 crore in financial year 2019-20 compared with the previous year. Speaking to reporters in Kochi on Tuesday, ICICI Bank executive director Anup Bagchi said the bank is targeting consumer loans comprising personal and auto loans by 22 per cent to Rs 2,200 crore disbursal. The disbursal target in the mortgage sector mainly comprising housing loan is around Rs 900 crore.
"Retail consumer loans have witnessed significant growth in Kerala over the last few years. There has been a robust growth in the economy of the state. We see the potential of increasing the disbursement of consumer loans and mortgages in Kerala by over 20 percent to Rs 3,100 crore, said Mr. Bagchi.
He said ICICI Bank, with a total business of over Rs 22,000 crore in Kerala with Rs 12,200 crore deposits and over Rs 10,000 crore advances, has a CD ratio of 87 percent in the state. The bank having 174 branches and 316 ATMs in the state is expected to increase the branch network by another 8-10 new branches in the current fiscal, he added.
