ICICI Bank has decided to recall loans and enforce its security interest against 20 of the largest non-performing assets (NPAs) cases where the net outstanding amounts to Rs 465 crore. This accounts for 13.52 per cent of the bank's total non-performing assets (NPAs), aggregating Rs 3,437 crore.
At the same time, the net outstanding to the 20 largest non-performing cases, other than where the bank has decided to recall loans, amounts to Rs 1,231 crore.
According to the bank's balance sheet 2001-02, this represents 35.81 per cent of ICICI Bank's total outstanding NPAs. Here ICICI Bank states that its exposure to any one individual borrower does not exceed Rs 170 crore.
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ICICI Bank funds to the tune of Rs 3,437 crore are locked up in NPAs of various industries. Loans made to the traditional sectors -- iron and steel as well as textile sector -- amount to the maximum outstanding of Rs 1,147 crore, representing over 30 per cent of the total bank's NPAs.
The manmade fibres and chemicals industries also account for a hefty 16.2 per cent of the total NPAs, amounting to Rs 556 crore.
Other sectors where the bank's funds have been blocked include engineering (7 per cent of NPAs), metal and metal products (5.8 per cent), food processing (4.9 per cent), drugs (3.4 per cent), cement (3 per cent), among others.
ICICI Bank also has funds locked up in the hotel industry (Rs 52 crore), shipping (Rs 31 crore), non-banking finance companies (Rs 30 crore) and the services sector (Rs 25 crore).