ICICI Bank eyes smaller towns to double retail biz to Rs 17 bn in Odisha

Lender is focusing on affordable housing and expanding its presence across tier-II and tier-III markets like Rourkela, Sambalpur, Jajpur and Berhampur, billed as key drivers for home loans

Buoyed by robust growth in Odisha, the country’s largest private bank by assets, ICICI Bank, has set a target to double its retail loan disbursement in the state to Rs 17 billion in FY19.

The private lender had advanced about Rs 8.5 billion retail loans in the last financial year.

The bank will reach the target by expanding its presence in home loans and in the personal, vehicle and two-wheeler loan space. In the home loan segment, the main growth driver for the bank will be affordable housing.

In FY19, the bank envisages to grow its disbursement of consumer loans to over Rs