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ICICI bank to disburse Rs 10,000 cr retail loan in Punjab, Haryana

Press Trust of India  |  Chandigarh 

The country's largest today said it is aiming to disburse to the tune of Rs 10,000 crore in and by the end of the current financial year.

"In FY'18, grew faster in the states in comparison to the bank's overall growth in the country of over 20 per cent.

"With robust growth in the economy of the states, this fiscal too, we see potential to grow faster in and than the national average. We will increase the disbursement by one-fourth to Rs 10,000 crore," said Anup Bagchi, Executive Director, here today.

In last fiscal, bank's stood at Rs 7,675 crore in and Haryana, he said.

The will reach the target by expanding its consumer-personal, vehicle and two-wheeler-loans, Bagchi said.

"In 2018-19, the bank envisages to grow its disbursement of consumer loans by over 45 per cent to more than Rs 3,500 crore," he said.

Consumer loans of personal, vehicle and two-wheelers have also witnessed an upswing across Punjab and The bank plans to expand its distribution network in the states for these products.

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 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, launch of 'Extra Home Loans' for affordable housing, Step-up home loans for young salaried individuals as well as introducing products especially for self-employed segment," Bagchi said.

has a network of 475 branches across Punjab and Haryana.

"We are committed to service the semi-urban and rural markets in the states. Over 50 per cent of our branches and nearly a quarter of our network is in the semi-urban and rural areas," said Bagchi.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 09 2018. 17:10 IST