ICICI bank to disburse Rs 10,000 cr retail loan in Punjab, Haryana
"In FY'18, retail consumer loans grew faster in the states in comparison to the bank's overall retail loan growth in the country of over 20 percent.
"With robust growth in the economy of the states, this fiscal too, we see potential to grow faster in Punjab and Haryana than the national average. We will increase the retail loan disbursement by one-fourth to Rs 10,000 crore," said Anup Bagchi, Executive Director, ICICI Bank here today.
The bank will reach the target by expanding its consumer-personal, vehicle and two-wheeler-loans, Bagchi said.
The bank is expanding its network across tier 2-3 towns like Moga, Barnala, Jind, Sirsa, Sangrur, Kapurthala, Hisar, Bhiwani, and Fathehabad, thereby making it more accessible, the executive director said.
"We plan to increase our home loan disbursement by one-fourth in Punjab and Haryana to Rs 2,500 crore. To drive this growth, we have a multi-pronged strategy - expanding our presence in tier 2-3 markets like Manesar,
Rohtak Ambala, Sonepat and Bhatinda, the launch of 'Extra Home Loans' for affordable housing, Step-up home loans for young salaried individuals as well as introducing products especially for the self-employed segment," Bagchi said.
"We are committed to serving the semi-urban and rural markets in the states. Over 50 percent of our branches and nearly a quarter of our ATM network is in the semi-urban and rural areas," said Bagchi.
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