ICICI Bank has announced that its mortgage loan portfolio has crossed the milestone of Rs. 2 trillion (Rs. 2 lakh crore), making it the first private sector bank private sector bank in the country to achieve this feat.
The achievement, said a press release, can be attributed to ICICI Bank’s focus on offering a hassle-free and frictionless experience to customers by digitising the entire mortgage process along with instant loan approvals.
Anup Bagchi, Executive Director, ICICI Bank, said, “We have been catalysing the growth of retail lending in the country over the past two decades by making it more convenient and widely accessible for customers. I am delighted to share that as a result of our continuous endeavour over the years, we have crossed Rs. 2 trillion (Rs. 2 lakh crore) in retail mortgage portfolio. This makes us the first private sector bank to cross the milestone.”
During the Q2 results announcement, the Bank had informed that mortgage disbursements during the September quarter surpassed the pre-COVID levels and reached an all-time monthly high in September.
Ravi Narayanan, Head-Secured Assets, ICICI Bank, said, “The disbursements in October were even higher than September. October witnessed highest-ever mortgage disbursement.”