ICICI Bank country’s second largest lender this year will be mainly focusing more on enhancing its wealth management business and value-added services such as mobile and internet banking.
ICICI Bank Executive Director V Vaidyanathan in a press meet told "We would focus more on areas like product distribution, wealth management and mobile banking in the period ahead”.
He said the bank this year there has been a 50 per cent growth in the share of revenues contributed from the distribution of products as against a credit growth of 20 per cent.
"If you look at profits of any bank, the contribution from liability and distribution sides are more than credit, so equation is shifting to the non-credit side."
The home loan portfolio is expected to maintain its growth in the months ahead, "as it (housing) is a basic need of the people," he said.
"Mortgage will continue to be an important part of Indian banking system," he said, adding that "good underwritten practices will help the country even in turbulent times,"
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