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Textiles sector tops ICICI Bank’s net bad loans list in 2002-03

E-Tex Staff - Mumbai

The textiles sector has topped the net non-performing loans list of ICICI Bank with outstandings of Rs 527 crore aggregating 16.3 per cent of total NPAs during the financial year ended March 31, 2003. This was followed by iron and steel at 13.3 per cent (Rs 430 crore), manmade fibres at 9.8 per cent (Rs 317 crore) and engineering at 8.9 per cent (Rs 290 crore), ICICI Bank said in its annual report for 2002-03.

The net NPAs as on March 31, stood at Rs 3,151 crore. In percentage terms, the net NPAs in iron and steel have come down to 13.3 per cent from 15.4 per cent in fiscal 2002-03. The rise was greater in services sector at 4.8 per cent (Rs 157 crore) from 0.7 per cent, it said. ICICI Bank said net NPAs of chemicals and metal & metal products stood at 8.7 per cent (Rs 283 crore) and 6.9 per cent (Rs 223 crore) respectively. The bank said as on March 2003 end, the net outstanding amount of the 20 largest non-performing cases where it has decided to recall loans and enforce its security interest against borrowers was Rs 676 crore with no individual borrower accounting for more than 119 crore.