ICICI Bank targets 20 pc growth in retail loan disbursement in Maharashtra in FY’20

ICICI Bank targets 20 pc growth in retail loan disbursement in Maharashtra in FY’20

Agency News

Pune, Sep 26 : Private Sector Lender ICICI Bank said that it aims to grow its retail loan disbursement in Maharashtra by 20 percent year-on-year to over Rs 13,000 crore in FY’20.

Major segments of retail loans such as consumer loan, mortgages and agri loans are set to grow at a rapid pace in the state this financial year.

The Bank aims to achieve this growth by expanding its consumer loan disbursement, which comprises largely of personal, car and two-wheeler, commercial vehicle and gold loans, by 22 pc to nearly Rs. 4,500 crore in FY20, compared to FY19.

Alongside, it will also grow mortgage loan disbursement by 11 pc to over Rs. 4,200 crore. 'Retail consumer loans have witnessed significant growth in Maharashtra over the last few years. There has been a robust growth in the economy of the state and we see the potential of increasing the retail loan disbursement in the state by 20% to over Rs. 13,000 crore in FY’20. We are focusing on consumer loans, home loans and agri loans to grow in the state,' said Mr Anup Bagchi, Executive Director, ICICI Bank while addressing to press conference here last evening.

'A significant driver of this growth is our technology led instantaneous loan offerings to our customers and making our products available in the tier II and tier III towns. Armed with our technological prowess, we now offer instant sanction of home loans, instant personal and auto loans to pre-approved customers instantaneously through our digital channels,' added Mr Bagchi. (UNI)