ICICI Bank targets over 20% growth in retail loans in Kerala

Though one-third of the share of consumer loans is accounted by tier1 cities, the demand is growing rapidly in tier 2 and 3 cities.

Kochi: ICICI Bank is looking at over 20% increase in its retail loan disbursement in Kerala in FY20 in the light of significant growth in that segment of credit in the state.

"We see the potential of increasing the disbursement of consumer loans and mortgage loans, the two important segments of retail loans, in Kerala by over 20% to Rs 3100 crore in FY20," said Anup Bagchi, executive director of the bank. The consumer loans comprising personal and auto loans are expected to grow by nearly 22% to Rs 2200 crore from last year while the mortgages including home loans is likely to rise by about 20% to Rs 900 crore.

Bagchi said better adoption of technology in the state has helped the bank to strengthen its consumer loan portfolio through insta tech solutions, which enable pre-approved customers of the bank to get instant loans.


Though one-third of the share of consumer loans is accounted by tier1 cities, the demand is growing rapidly in tier 2 and 3 cities. "We have to tweak our strategy a bit in these places as there are more self-employed loan seekers than salaried class," he said.

The bank has a credit-deposit ratio of 87 in Kerala against the state average of 67 with a total business of over Rs 22000 crore. The bank is the largest lender among private sector banks to self-help groups (SHGs) with cumulative financial assistance pegged at Rs 380 crore to over 1.65 lakh women. " The bank intends to expand its reach to 2.25 lakh women and the loan disbursement to Rs 550 crore this fiscal," Bagchi said.

ICICI Bank will also add another 10 branches to its existing network of 174 in the state, he said.
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