ICICI Bank aims at Rs 1,200 cr loan that is retail in Assam in FY20

The lending company intends to accomplish this target by increasing its customer loan disbursement comprising personal and automotive loans to over Rs 850 crore in the present fiscal together with home mortgage profile to Rs 300 crore.

Private sector loan provider ICICI Bank on January 22 stated it’s seeking to increase its loan that is retail disbursement Assam to over Rs 1,200 crore during 2019-20.

The financial institution intends to accomplish this target by increasing its customer loan disbursement comprising personal and automotive loans to over Rs 850 crore in today’s financial together with home mortgage profile to Rs 300 crore.

There’s been growth that is significant retail customer loans in Assam over the past couple of years, ICICI Bank Executive Director Anup Bagchi stated in a declaration.

“With development in the economy of Assam, we come across the possibility of increasing the retail loan disbursement within the state by a lot more than dual to over Rs 1,200 crore in FY’20,” he stated.

The lending company is centering on customer and home loans to grow its company into the continuing state, he stated.

“A significant motorist with this development is our technology-led instantaneous loan offerings to your clients and making items for sale in the tier-II and III towns.

“Armed with this prowess that is technological now provide immediate sanction of house, personal and auto loans to pre- approved clients through our electronic stations,” Bagchi stated.

The focus is in the affordable housing segment to drive growth and the bank is concentrating on places like Jorhat, Dibrugarh, Tinsukia, Tezpur, Silchar, Sivasagar among others, he said in the mortgage portfolio.

“We want to increase our home loan disbursement in Assam by 40 % to Rs 300 crore in FY’20,” Bagchi stated.

The lender has adopted a multi- pronged strategy, he said, adding that it includes focus on affordable housing segment, expansion to tier-II and III markets and credit processing centres to achieve growth.

The team has also been actively associated with providing free-of-cost training that is vocational the underprivileged youth in Assam through the ICICI Academy for techniques, the declaration said.

“The academy has one centre in Guwahati and contains imparted vocational training to over 5,250 students, of which about 20 percent are women,” it said.

The statement said by end of FY’20, it will train 5,700 youths with skills.