ICICI Bank under K V Kamath was one of the most aggressive banks when it came to adopting Technology and led the way for other Indian banks to modernize. However, one of the strategies of ICICI to aggressively resort to unsecured lending backfired. Since 2007, ICICI Bank has been withdrawing from the retail credit market, especially from the unsecured retail segments of personal loans and credit cards. A number of private banks and NBFCs along with SBI have gained market share during the last five years at the expense of ICICI Bank.
ICICI’s unsecured portfolio has continued to shrink and is now only a shadow of what it was in FY07. Both personal loans and credit cards have continued to decline in FY12 by 58% and 9% respectively. We have not seen any intention
from the management