ICICI Bank expects 15-16 percent credit growth

August 12th, 2008 - 8:45 pm ICT by IANS  

Mumbai, Aug 12 (IANS) The existing high interest rates may affect ICICI Bank’s business growth, but its corporate portfolio would help the bank achieve 15-16 percent overall credit growth, said a top official here Tuesday. “Our corporate pipeline is still very strong. We expect to maintain a 15-16 percent year-on-year credit growth,” ICICI Bank’s joint managing director Chanda Kochhar told reporters on the sidelines of a banking technology conclave.

Asked about the possibility of rate cuts, Kochhar said: “It would be too early to talk about this.”

On the Reserve Bank of India’s (RBI) tight monetary policy, she said: “We must understand that there are challenges and opportunities. The policy measures will help us manage the challenges. The RBI has projected that inflation would be brought down by March.”

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