Private sector ICIC Bank has said it wants to reach a loan disbursement volume of Rs 13,000 crore in the state of Maharashtra(other than Mumbai City) during financial year 2019-20. This will be a rise of 20 percent over its disbursements in the state during 2018-19.
Anup Bagchi, Executive Director of the bank told mediapersons in Pune that the targeted growth will come chiefly from mortgage loans, consumer loans and agriculture loans.
The Bank aims to achieve this growth by expanding its consumer loan disbursement, which comprises personal, car and two-wheeler, commercial vehicle and gold loans, by 22% to nearly Rs. 4,500 crore in FY20, compared to FY19. Alongside, it will also grow mortgage loan disbursement by 11% to over Rs. 4,200 crore. The bank will grow disbursement of agriculture related loans by 27% to over Rs. 4,300 crore
“Retail consumer loans have witnessed significant growth in Maharashtra over the last few years. There has been a robust growth in the economy of the state and we see the potential of increasing the retail loan disbursement in the state,” Bagchi said.
“A significant driver of this growth is our technology led instantaneous loan offerings to our customers and making our products available in the tier II and tier III towns. Armed with our technological prowess, we now offer instant sanction of home loans, instant personal and auto loans to pre-approved customers instantaneously through our digital channels,“ added Mr. Bagchi.
Within the mortgage portfolio, the focus is to drive growth in the affordable housing segment category. In the affordable housing segment, the Bank is focusing on cities like Solapur, Ahmednagar, Nashik, Nagpur and outskirts of Pune -Talegaon, Chakan, Moshi, Wagholi among others. It is also expanding its home loan proposition to tier II & III cities with robust housing potential namely Nagpur, Nashik, Kolhapur and Satara among others.
