“We see strong opportunities for ICICI Bank in the SME segment, where it has customized offerings for the micro-segment and introduced several firsts to customers,” brokerage house Jefferies said in a note. “This segment is growing at 30% and catching up on asset quality. In the supply chain segment, the bank is witnessing strong momentum in adding new customers across corporates and vendors. In the retail segment, the bank through branches expanding into new markets. and the right products.”
The Bank is expanding its presence in high potential markets and has 104 Zonal Heads, 24 City Heads and 9 State Heads. It has merged rural banking centers with retail centres, while retail asset delivery is fully linked with liabilities.
Nitin Agarwal said, “ICICI Bank is well positioned for the next growth cycle with a focus on maintaining a healthy portfolio quality to improve fee income, reduce acquisition costs and grow pre-provisioning operating profit in a risk-calibrated manner.” is ready.” Head-BFSI Research, Motilal Oswal Financial Services, “ICICI Bank appears to be several notches above its peers when it comes to business transformation led by technology initiatives and these digital capabilities will enable the bank to deliver enhanced growth in the years to come.” ICICI Bank also told analysts that it has partnered fintech Has helped in increasing customer base and deepening engagement. The share of digital spend has increased from 6% in FY20 to 9% now and it is planning to ramp up the network further from the second half of the current FY. Also said that partnership with credit card Amazon Has helped create 3.5 million customers and 35% are new to the bank and spending is 20% higher.
ICICI Bank Management also said that India’s macro trend Be more flexible than ever with the global experience. In his experience retail customers are more focused on maintaining high credit scores, corporate balance sheets are less leveraged and SMEs feel that the GST rollout and higher share of formal income is helping them secure more funds and at cheaper rates Is.
The management also said that capex activity is witnessing a modest pick-up and supply chain is getting localized in the backdrop of global uncertainties.