ICICI Bank open to buying European assets: Kochhar

ICICI Bank is open to buying loan portfolios of European banks, its chief executive, Chanda Kochhar, said on Wednesday, as banks in the region look to deleverage and offload loans to shore up capital base.

"The opportunity to pick up some good assets at good pricing clearly exists. So, that's what we are looking at all the time and exercising it whenever we see the right opportunity," Kochhar told Reuters India Investment Summit.

"We have picked up some which are India-related assets, but I would say not very large number, because given the fact that on the other hand the ability to raise funds currently has also become more expensive," she said.

European banks are struggling to raise their capital cushions to become more resilient against future shocks, which they can do by increasing equity they hold or by shrinking their asset base.

ICICI Bank expects net interest margins -- a key gauge of profitability -- to rise by 20 basis points in the financial year starting April, Kochhar added.