Aim at rapid expansion of retail loan business in Odisha: ICICI Bank

ICICI Bank on Wednesday said it would expand its retail loan business at a rapid pace in Odisha during the ongoing fiscal.

Home loan disbursement in the state is likely to grow by 30 per cent to Rs 1,250 crore, while the consumer credit segment is expected to rise by over 40 per cent to Rs 1,800 crore, the lender said.

The bank is also aiming to grow business loans and overdrafts disbursement by 35 per cent to more than Rs 1,300 crore, Anup Bagchi, Executive Director, ICICI Bank, told reporters here.

“Odisha is an important market for us. We continue to strengthen our franchise, delivery and servicing capabilities with a range of digital initiatives. We are focusing on locations such as Rourkela, Berhampur, Sambalpur, Cuttack, Jharsuguda, Angul, Bargarh, Bolangir and Jajpur, among others,” Bagchi said.

He added that the lender has forayed into a new segment of providing business loans to contractors for building roads, bridges and dams in order to support growth of infrastructure in the state.