BUSINESS | Wednesday, August 19, 2009 | Email | Print |  | Back
ICICI Bank to focus on home, car loans: CEO
PTI | Mumbai
Leading private sector lender ICICI Bank plans to focus more on growing its home and car loan portfolios in the months ahead. “We would continue to focus more on home, car loans,” ICICI Bank Managing Director & CEO Chanda Kochhar told reporters on the sidelines of a conference on Tuesday.
The impact of drought in some parts of the country is yet to be assessed but this may have an impact on the banking industry as well if consumer demand is affected, Kochhar said.
“We have to wait some more time to see the impact (of the drought). In some states, monsoon has been good but in some others, it is not,” Kochhar said.
Earlier at the conference, Kochhar said the regulators have to keep pace with innovations in the market and have to be ahead of the curve to face the challenges in the system. Organisations have to take into account future risks while shaping the risk management tools than merely assessing past risks, she said.
Kochhar also highlighted the need for duly assessing the reputation risk of organisations, which, if neglected, can become a bigger risk than quantifiable ones.
Echoing a similar view, UTI Mutual Fund’s Chairman and Managing Director U K Sinha said the multiple regulatory system in India has created a situation where organisations can beat any of the regulators. “In India, it is possible to beat any regulator because of the multiplicity of regulators,” he said. There have been signals of growth opportunities from certain sectors such as IT, construction, financial sector and auto, he said. On the issue of stake sale in UTI MF, Sinha said the sale plan was on but declined to divulge any specific details.
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