Car, two-wheeler finance market to slow down

By Staff
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Google Oneindia News

Kolkata, Jun 15 (UNI) The car and two-wheeler finance market will slow down in the current fiscal to around 13 per cent and 9 per cent respectively.

Speaking to mediapersons here today at the sidelines of a conference, ICICI Bank Senior General Manager Rajiv Sabharwal said the industry growth in terms of car finance was 23 per cent and two wheeler finance grew at 12 to 13 per cent last year. The industry would slow down this year and the bank would restrict its market presence in the retail segment, which also include home loan.

ICICI Bank, one of the leading private sector banks in India, total retail sector exposure was Rs 1,27,000 crore, out of which car finance was Rs 19,180 crore, two-wheeler Rs 2,327 crore and home loan was Rs 63,850 crore in 2006-07.

ICICI Bank is the leader in car finance market with a market share of 32 per cent in the last fiscal.

The net NPA of the bank 0.7 per cent.

The bank posted a 40 per cent growth in deposits in FY07 while industrial growth is at 24 per cent.

In insurance segment, where ICICI is the largest private player in India, the bank enjoys 28 per cent market share in life insurance segment and 34 per cent in general insurance segment.

UNI

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