According to Ms. Chanda Kochhar, CEO, ICICI Bank’s credit will grow at a hefty 18 per cent this fiscal, contrary to a meagre 1.8 per cent expansion in the first half, largely on account of buoyant corporate and retail businesses.
Last quarter (July-September) was the first quarter after nine quarters that the decline in their retail business was arrested and domestic corporate sector business has grown at an annualised rate of 30 per cent in the last quarter.
It may be recalled that ICICI Bank had posted a 19 per cent growth in net profit to Rs 1,236.27 crore during the second quarter. In the same period a year ago, it had witnessed a flat growth at Rs 1,040.13 crore.
ICICI Bank asset grew just by 1.8 per cent during the first six months of the current fiscal at Rs 1,94,200 crore against Rs 1,90,860 crore at the end of September, 2009.
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