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Tuesday, July 21, 1998
ICICI loan approvals leapfrog 140 per cent to Rs 9,000 crore
Our Banking Bureau
Mumbai, July 20: ICICI's approval's for the first quarter of the current fiscal (April-June 1998) went up by 140 per cent to touch Rs 9,135 crore as against Rs 3,814 crore for the corresponding period in 1997-98. Disbursements (excluding guarantees) for the first quarter ended June 30, 1998, aggregated Rs 4,225 crore, up from Rs 2,771 crore in April-June last year, thereby registering a 53 per cent growth. During the same period, ICICI also issued financial guarantees aggregating Rs 156 crore, down from Rs 486 crore in the previous quarter.An ICICI release issued on Monday said: "in line with the corporation's objective of increasing diversification in the asset profile, 33 per cent of total approvals and 21 per cent of disbursals were made to the infrastructure sector. The oil, gas pertochemicals and other related areas accounted for 7 per cent and 11 per cent of aggregate approvals and disbursals, respectively." An ICICI release said that it has continued to focus on structuring treasury solutions fortop-rated corporates and these non-project assistance accounted for 30 per cent of total approvals and 35 per cent of total dibursals. "ICICI's regular project finance assistance to the traditional manufacturing sector amounted to 30 per cent of approvals and 33 per cent of dibursals," it said. Foreign currency loans accounted for 13 per cent of total approvals and 9 per cent of total disbursals during the period compared to 18 per cent and 31 per cent, respectively, for the corresponding period in 1997-98. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.

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