ICICI Bank says record home loan sales seen in October

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26 Aug, 2025 12:21

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Private sector lender, ICICI bank on November 11 said it has seen a significant pick-up in home loan disbursements in October both in terms of the number of customers and in terms of value. Bank's mortgage loan portfolio has crossed Rs 2 lakh crore, the bank said.

“We have seen a resurgence in demand for home buying,” said Anup Bagchi, Executive Director of ICICI Bank in a conference call with reporters.

The numbers are substantially more than September, Bagchi said, adding, the bank is aiming to ramp up its digital channels for business and the process is already underway. Part of the growth  is due to affordability of homes, Bagchi said.

The revival is seen despite the threat of the Covid-19 and economic slowdown, Bagchi said. “We are growing our digital channels and making the process easy for the customers,” Bagchi said.

The bank is also attempting to give maximum sanction amount to their customers, around 5-10 per cent more compared with other banks, Bagchi said.

Unlike personal loans, home loans have collateral and are secured assets, Bagchi said. “Many a time the first home loan buyers need a handholding to get that first home loan,” said Bagchi.

Bagchi however declined to give a growth target for home loan portfolio, saying the bank will try to be aggressive in this segment.

Banks have been shifting to more secured retail loans such as home loans from risky corporate loans in view of the Covid-impact on the economy. Bagchi said share of securitization in overall mortgage book is very low. "What we are talking is pure organic growth," he said.

In the September quarter, ICICI Bank has grown its retail book 13 percent on a YoY basis and 6 percent on a sequential basis. Growth in the performing domestic corporate portfolio was about 7 percent YoY. There is a clear focus visible on the retail side.

Retail loans comprised 65.8 percent of the total loan portfolio as at September 30, 2020. Including non-fund outstanding, retail was 53.6 percent of the total portfolio as at September 30, 2020.