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ICICI Bank bets on retail financial services

CHENNAI: The resurgence in the Indian corporate sector, large untapped insurance potential and low credit penetration will provide sustainable business opportunities for ICICI Bank, according to Nachiket Mor, its Executive Director. Mr. Mor said the bank saw huge opportunities in retail financial services, infrastructure financing and life insurance. Over the years, it had emerged as total financial service provider. The money raised from the public issue, currently under way, could go a long way in helping its growth and maintain a comfortable capital adequacy ratio, which stood at 11.3 per cent as on December 2003. Post issue the CAR would be around 15 per cent, he said.

— Our Bureau

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