NPAs of ICICI up by 9.6% at Rs 6,018 cr

MUMBAI, JUNE 8: Industries in the man-made fibres, textiles, iron and steel and basic chemicals account for the major chunk of ICICI's gro...

MUMBAI, JUNE 8: Industries in the man-made fibres, textiles, iron and steel and basic chemicals account for the major chunk of ICICI’s gross non-performing assets portfolio of Rs 6,018 crore as on March 31, 2000, up by 9.6 per cent as compared to the previous year. Man-made fibres account for 11.6 per cent of the total gross NPAs at Rs 696 crore, textiles was 11.4 per cent at Rs 684 crore while iron and steel stood at 10 per cent amounting to Rs 601 crore, as per the ICICI’s annual report.

Other industries, which include leather products, glass and clay products, printing and construction material form 10.8 per cent aggregating Rs 649 crore, it said adding, basic chemicals constitute 7.2 per cent of the total at Rs 433 crore.

Food products (5.5 per cent), paper and paper products (5.5 per cent), metal products (5.7 per cent) and electronics sector (5.4 per cent) together account for Rs 1333 crore of the gross NPA, it said.

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ICICI’s net NPA rose by 6.1 per cent to Rs 3,959 crore ason March 31, 2000, from Rs 3,733 crore as on March 31, 1999. As on March 31, 2000, the net oustanding amount of the 20 largest non-performing cases where ICICI has decided to recall loans and enforce its security interest against the borrowers was Rs 804 crore with no individual borrower accounting for more than Rs 166 crore.

In fiscal 1999-00, the net outstanding amount of the 20 largest non-performing cases, other than where ICICI had decided to recall loans, aggregated Rs 1,071 crore with no individual borrower accouting for more than Rs 163 crore, the report stated.

Loans in the short term period from one year to three years account for 39.6 per cent of the gross NPA at Rs 2,381 crore, while in the period of three to five years it stood at 22.8 per cent at Rs 1,370 crore.

ICICI has made substantial provisions and write-offs including gross write-down of investments of Rs 690 crore during 1999-00, representing an increase of 44.2 per cent over the previous year. Provisions and write-offs against loans increased 27 per cent to Rs 462 crore in 1999-00 and gross write-down of investments increased 99.8 per cent to Rs 228 crore in the same period, it said.

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