ICICI Bank expects 15% credit growth in FY11

Country's largest private sector lender, ICICI Bank today said its loan growth in the next financial year could go up to around 15 per cent on the back of a strong revival in demand in key-segments.

The lender has already seen growth picking up in its home and auto loan segments, ICICI Bank Managing Director and CEO Chanda Kochhar told reporters on the sidelines of an event here.

Besides, the bank has seen improvement in the project financing in recent months and expects the trend to pick up further in the months ahead, Kochhar said.

With the global financial crisis resulting in a slowdown in the domestic market, majority of the banks, including ICICI Bank, had seen their credit growth shrink over the last one year.

The Reserve Bank has a loan growth forecast of 16 per cent for the current fiscal. State Bank of India has already announced it would be able to achieve the target for the fiscal.

Talking to reporters today, Kochhar also ruled out any immediate plans to hike its deposit rates.