Against the backdrop of a surge in bad loans, ICICI Bank has decided to tighten its corporate lending growth and apply breaks on growing its corporate books, a news report suggested. Going ahead the bank will apply ‘selective approach to incremental businesses’ in its corporate book, it had recently said to its investors. The bank is planning to limit the growth in corporate loans, including international, to about 10% year on year. ICICI Bank’s corporate loan book at the end of quarter ended December was at 28.8% out of the Rs 4, 34,800 crore total loan book. At the end of the quarter ended December, growth in domestic corporate portfolio had grown to 14.9% on a year-on-year basis as compared to 7.5% year-on-year as of 30 September 2015. Apart from these measures, the bank has also decided to form a separate credit administration team that will help in recovery of bad loans.
