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SEZ not our thrust area: ICICI Bank
Our Bureau
MS KALPANA MORPARIA
Mumbai
,
Sept. 28
"Special Economic Zone has not been our thrust area and we haven't looked at it," said Ms Kalpana Morparia, Joint Managing Director, ICICI Bank.
To a question on SEZ financing, Mr K.V. Kamath, Managing Director and CEO, ICICI Bank, said, "Let the uncertainty on the SEZ settle and clarity emerge."
On interest rates, Mr Kamath said the bank "follows the signals from the market." While Ms Morparia said interest rates are expected to remain stable and there may not be any softening of rates.
For the banking system, Mr Kamath felt consumer credit will grow at 30-35 per cent this year, markedly lower than the average annual growth of 40-45 per cent in the last four years. "Consumer credit has slowed down on tightening of interest rates," he added.
Dr Anil K. Khandelwal, Chairman and Managing Director, Bank of Baroda, said, "Interest rates are expected to remain stable."
He added SEZ is a national priority and as a nationalised bank, "we will keep a watch." Bank of Baroda expects a 40-45 per cent growth in international operations contributing, 30 per cent to the bank's net profit against 28 per cent last year. He also that the bank plans to enter 10 new countries, including Australia, Canada, Qatar and New Zealand, among others.
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