KFC remits ₹36 crore to the treasury as State government’s dividend
An Annual General Meeting of the KFC here on Tuesday also declared a dividend of ₹5 per share.
Kerala Financial Corporation (KFC), a State-owned industrial financing institution based in Kerala, has remitted a dividend of ₹36 crore to the State exchequer.
An Annual General Meeting of the KFC here on Tuesday also declared a dividend of ₹5 per share. It also adopted the financial statements for the year ending on March 31, 2024 and decided to declare a dividend of ₹5 per share. The State government holds 99% of the shares in KFC, and the other shareholders include SIDBI, SBI, LIC, etc.
The institution reported a substantial increase in net profit, reaching ₹74.04 crore, marking a 47.54% rise from the previous year’s figure of ₹50.19 crore. The loan portfolio exceeded ₹7,000 crore for the first time, reaching ₹7,368 crore, while its net worth touched ₹1,064 crore.
Chief Minister Pinarayi Vijayan lauded the KFC for its “best-ever performance”. In a message, Mr. Vijayan said the KFC had increased its net profit by ₹74.0 crore.
Finance Minister K.N. Balagopal lauded the KFC for providing low-interest loans to start-ups.
CMD, KFC, Sanjay Kaul said: “KFC has sanctioned substantial loans to MSMEs, startu-ups, and other sectors during the fiscal year, contributing to economic development and job creation in the region. A net NPA of less than 1% indicates a strong base. This is industry-leading performance as the NPA position is better than some of the commercial banks.”
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