Kerala Financial Corp registers 58% growth in loan disbursement

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Trivandrum: Kerala Financial Corporation (KFC), the pioneer industrial financing institution undertaking under the Kerala Government, has registered record growth in critical operational areas like sanction, disbursement, recovery, interest income, etc for the financial year ending 2013-14.

According to a statement from KFC, the year end unaudited figures shows that KFC has sanctioned Rs. 989.48 crores as loans to MSME sectors of the state with a growth of 49% over the previous financial year. The loan disbursed stands at Rs. 754.73 crores with a highest growth of 58%. The total recovery figure stands at Rs. 568.61 crores.

Commenting on the growth, P Joy Oommen, Chairman & Managing Director of KFC said, “The Corporation could achieve these results on account of customer – centric policies, inspired performance by its staff, and re-engineering of its business processes. During 2013-14, we added a large number of new customers and gave special attention to young entrepreneurs. We are proud that KFC has achieved a all time record growth in sanction disbursement and turnover.”

Kerala Biz News

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