ICICI sanctions rise 38 pc

quot;In line with ICICI8217;s strategy of providing funding across the maturity spectrum, during 1998-99, short-term prime rate and medium-term prime rate related disbursals accounted for 33 per cent of total disbursals,8221; said the ICICI release.

In its lending portfolio, the foreign currency loans account for only six per cent of total disbursals, reflecting the lower demand for foreign currency funds. The balance nine per cent oftotal disbursals comprised leasing deferred credit, line of credit, retail financing and other forms of assistance during the year.

While the infrastructure and oil and gas sectors aggregated 48 per cent and 37 per cent of approvals and disbursals respectively, non-corporate finance assistance accounted for 30 per cent and 35 per cent approvals and disbursal, respectively. The institutions total exposure for infrastructure is estimated at Rs 2,885 crore, recording a growth of 15 per cent during the year.

Among infrastructural projects, both power and mining constitute five per cent of the total exposure. The power sector has received Rs 996 crore while telecom has got Rs 226 crore during the year. The transportation sector has received Rs 762 crore four per cent during the year.

The institution disbursed Rs 4,300 crore towards oil, gas, petrochemicals and fertilisers sectors recording 22 per cent growth during the year. ICICI8217;s project finance assistance to the traditional manufacturing sector was 19per cent of total approvals and 25 of the total disbursals.

The institution has improved the risk profile of its asset portfolio by continued focus on top quality corporate finance and structured project finance asset, the release said.