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Journalism of Courage
Mumbai, August 18: ICICI Ltd plans to focus on its retail finance business and expects the same to contribute about 15-20 per cent of its turnover in the next five years, a senior official of the financial institution has said.
"We are building a strong network for selling our personal finance products at a retail level and expect the same to contribute about 15-20 per cent of our turnover in the next five years, ICICI’s chief operating officer Lalita D Gupte said here today at the launch of its home loans here.
The institution which entered the retail segment by launching auto loans and funding of consumer durables last year has received an excellent response because of its personalised services through direct marketing agents (DMAs), she said, adding the institution was now aggressively targeting the home loan segment.
"Our well-established network of DMAs will enable us to make a dent in the highly-potential housing finance market. We also plan to establish call centres and provide all the details about our various financing schemes on the net for the benefit of our potential customers," she said.
On competition in the housing finance sector from existing players like HUDCO and LIC or GIC housing finance, she said,"the potential in the industry is too large that any number of players can enter the segment without facing much competition".
