Thiruvananthapuram, May 24 (IANS) Kerala Financial Corporation (KFC), the state’s premier development financial institution, has reported a ‘record-breaking performance’ for the financial year ending March 31, 2025.
KFC posted a net profit of Rs 98.16 crore, reflecting a 32.56 per cent increase from the previous year, marking the highest-ever profit in its history.
The corporation’s loan portfolio crossed the Rs 8,000 crore milestone for the first time, reaching Rs 8011.99 crore, while its net worth increased to Rs 1328.83 crore, underlining robust financial growth.
“The state government has infused a capital of Rs 920 crore into KFC, including Rs 500 crore during this government’s tenure. This support has enabled KFC to offer loans to MSMEs at interest rates starting from just 5 per cent. The growth of KFC mirrors the broader progress in Kerala’s industrial sector,” said State Finance Minister K.N. Balagopal.
The infusion of Rs 200 crore in share capital in FY 2024–25 helped KFC significantly strengthen its Capital Adequacy Ratio (CRAR), now at 28.26 per cent, well above the RBI-mandated minimum of 15 per cent for NBFCs.
During the year, KFC has sanctioned Rs 4002.57 crore loans to MSMEs, Startups and other sectors.
Total loan disbursement comes to Rs 3918.40 crore, and the total loan recovery is Rs 3980.76 crore.
“KFC’s strong financial performance, particularly the industry-leading low net NPA of less than 1 per cent, speaks of the Corporation’s prudent lending practices. This record performance positions KFC as a key driver of Kerala’s industrial and entrepreneurial advancement. We will remain committed to supporting Kerala’s MSME and startup ecosystem, driving sustainable economic growth and job creation,” said Sriram Venkitaraman, MD of KFC.
Under the CM’s Entrepreneurship Development Programme (CMEDP), KFC has so far supported 3028 MSMEs with Rs 1030.89 crore loans at 5 per cent interest, generating an estimated 81,634 direct and indirect employment opportunities.
Additionally, under the Startup Kerala Scheme, 72 startups were assisted with Rs 95.20 crore as collateral-free loans, promoting innovation and entrepreneurship across the State.
KFC aims to achieve a loan portfolio of Rs 10,000 crore by the end of this year.
To meet this ambitious target, the corporation plans to diversify its operations into new sectors, with a continued focus on supporting MSMEs, the tourism industry, and startups.
“To enhance operational efficiency and deliver superior services, KFC will undergo a comprehensive digital transformation this year. This includes modernising its offices and infrastructure, as well as providing quality training to its staff,” added Sriram.
–IANS
sg/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
