Icici Gross Npas Bloat By 7% In The First Half

ICICI's gross non-performing assets (NPAs) has increased by 7 per cent for the half year ended September 30, 2001. In absolute terms, the gross NPA has gone up to Rs 6,396.97 crore.

The net NPA as a percentage, as on September 30, was at 5.2 per cent, which was the same as on March 31, 2001. However, in absolute terms, the net NPAs for the period was at Rs 3,183.44 crore compared with Rs 2,981.81 crore on March 31, 2001.

The net outstanding amount of the 20 largest NPAs as on September 30, 2001, where ICICI decided to recall its loans and enforce its security interest against the borrowers, was Rs 488.69 crore.

 

The net outstanding amount as on September 30, 2001 of the 20 largest NPAs, other than where ICICI decided to recall the loans, where Rs 917.42 crore.

The standard restructured loans for the same period were at Rs 4,225.3 crore, while the provisions against the restructured loans were at Rs 64.7 crore.

The financial institution has managed to decrease its gross NPAs as on September 30, 2001 compared to March 31, 2001 in industrial sectors such as petrochemicals, man-made fibres, fertilizer and pesticides, sugar, food products, iron and steel, electronics and others. However, gross NPAs has risen in basic chemicals, paper and paper products, machinery and electrical equipment.

ICICI's total exposure in top five industries accounted for 45 per cent of its total exposure.

Its outlay in power and iron and steel were at 11.1 per cent each, 8.2 per cent for crude petroleum and petroleum refining, 7.6 per cent for chemical and chemical products, 6.5 per cent for textiles, and 4.4 per cent for telecom.