ICICI Bank targets new segments, on hiring spree

The slow down in retail loans seem to be pinching ICICI Bank as it has frozen fresh recruitment on the retail loans side. But recruitments in other growth areas for the bank have not stopped. The board has approved addition of 8,500-11,000 workforce this year, a 22% increase over the last year, reports CNBC-TV18.

Selling retail loans has become an area of low focus for ICICI Bank.The bank officials confirmed that they have frozen recruitments in the retail assets segment, in which it already employs 4,500-4,700 people.

The officials admitted that recruitments have been put on hold due to the slowdown in loan growth on acount of interest rate pressures.

However, the overall pace of recruitment remains unchanged, they added. The bank's board has approved addition of 8,500 to11,000 people into the bank this year, a 22% increase over the last year.

These fresh recruits will be hired for deposit mobilisation, small and medium sized businesses and rural banking, which the bank says are its new focus areas.

The bank has already recruited 800 new candidates this quarter for these businesses. And it will start an induction process for 3,000 more in next week taking its employee force to 37,000.


Source : http://www.moneycontrol.com/india/news/business/icici-bank-targets-new-segmentshiring-spree/282106