Kerala Financial Corporation reports record profits for FY 2024-25
T'puram: Kerala Financial Corporation (KFC) reported a record performance for the 2024-25 financial year with a net profit of Rs.98.16 crore – an increase of 32.56% from the previous year.
The corporation's loan portfolio crossed the Rs 8,000-crore milestone for the first time, reaching Rs 8,011.99 crore, while its net worth increased to Rs 1,328.83 crore, underlining robust financial growth.
"The state govt infused a capital of Rs 920 crore into KFC, including Rs 500 crore during this govt's tenure. This support enabled KFC to offer loans to MSMEs at interest rates starting from just 5%. The growth of KFC mirrors the broader progress in Kerala's industrial sector," said finance minister KN 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%, well above the RBI-mandated minimum of 15% for NBFCs. In addition, KFC achieved notable progress in asset quality, bringing gross NPA down to 2.67% (from 2.88%) and net NPA to 0.61% (from 0.68%).
During the year, KFC sanctioned Rs 4,002.57 crore loans to MSMEs, startups, and other sectors.
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Total loan disbursement came to Rs 3,918.40 crore, and the total loan recovery was Rs 3,980.76 crore.
Under CM's Entrepreneurship Development Programme (CMEDP), KFC supported 3,028 MSMEs with Rs 1,030.89 crore loans at 5% 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.
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