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Slow down in loan defaults of ICICI bank

Slow down in loan defaults of ICICI bank despite rise in NPA's

Apnaloan.com Research Bureau

20 Jan 2008

Non-performing assets or NPAs are at 1.47% of net customer assets at the end of December 2007 at ICICI bank, compared to 1.41% at the end of September 2007.

Gross NPAs rose by Rs. 1,193 crore in the June 2007, by Rs. 646 crore in the quarter ending September 2007 was seen at Rs. 557 crore in the December quarter.

In spite of the rise in NPAs, the loan defaults have slowed down. The banks' advances grew by 24.7% year-over-year at 31 December 2007, compared to 33.3% at the end of September 2007.

Retail loan growth continues to fall and was at 12% year-on-year on 31 December 2007, compared with 22% on 30 September 2007.

The bank's retail advances constituted 61% of total advances at end-December, compared with 63% at the end of September.