Great Profit by Kerala Financial Corp

19 July 2013

Kochi

Thiruvananthapuram-based Kerala Financial Corp (KFC) said its net profit for the financial year 2012-13 touched a record Rs 66.83 crore, an increase of 46.38%. The leading industrial financing institution in the state declared a dividend of 8% to its shareholders in its annual general meeting held on Friday.

“Government of Kerala, being the largest shareholder with more than 97% of the equity, will get approximately Rs 16.46 crore as dividend,” said P Joy Oommen, chairman and managing director of KFC.

“With improvement in all operational areas, KFC has increased the quality of its assets and reduced its net non-performing assets (NPAs) to 0.36%. KFC also registered record growth in critical operational areas like sanction, disbursement, recovery and interest income for the financial year ended 2012-13,” he noted.

Source– http://timesofindia.indiatimes.com/city/kochi/Kerala-Financial-Corp-posts-record-profit-of-Rs-67-crore/articleshow/21173722.cms

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