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Time of India
25-05-2025
- Business
- Time of India
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng với sàn môi giới tin cậy IC Markets Đăng ký Undo 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.
Mint
25-05-2025
- Business
- Mint
Kerala Financial Corporation reports record net profit
Thiruvananthapuram, May 25 (PTI) Kerala Financial Corporation (KFC), the state-run development financial institution, has announced its highest-ever annual net profit of ₹ 98.16 crore for the financial year ending March 31, 2025, marking a 32.56 per cent rise from the previous year. The Corporation's total loan portfolio crossed the ₹ 8,000 crore mark for the first time, reaching ₹ 8011.99 crore. Its net worth also rose to ₹ 1,328.83 crore, reflecting strong financial health, an official release said here on Sunday. KFC's improved performance comes on the back of continued government support. The Kerala government has so far infused ₹ 920 crore in share capital, including ₹ 500 crore during the current administration. This backing has enabled the Corporation to provide loans to micro, small and medium enterprises (MSMEs) at interest rates starting from five per cent, said State Finance Minister K N Balagopal in a social media post. In FY 2024–25, KFC received an additional ₹ 200 crore in share capital, which helped it improve its Capital Adequacy Ratio to 28.26 per cent, well above the 15 per cent required by the Reserve Bank of India for non-banking financial companies. The Corporation also reduced its Gross Non-Performing Assets (NPA) to 2.67 per cent from 2.88 per cent, while Net NPA dropped to 0.61 per cent from 0.68 per cent. KFC sanctioned ₹ 4002.57 crore in loans during the year, with disbursements at ₹ 3918.40 crore and recoveries of Rs.3980.76 crore. 'This performance highlights KFC's sound lending practices. With a Net NPA of less than 1 per cent, we remain committed to strengthening Kerala's MSME and startup ecosystems,' said Managing Director Dr Sriram Venkitaraman IAS. Through the Chief Minister's Entrepreneurship Development Programme (CMEDP), KFC has supported 3028 MSMEs with ₹ 1030.89 crore in loans at 5 per cent interest, creating around 81,634 jobs. Under the Startup Kerala Scheme, 72 startups received collateral-free loans totalling ₹ 95.20 crore. Looking ahead, KFC aims to expand its loan portfolio to ₹ 10,000 crore by the end of 2025. To achieve this, the Corporation will broaden its focus to include tourism and other emerging sectors. It also plans a major digital upgrade to improve services and operational efficiency, Venkitaraman added.
Hans India
24-05-2025
- Business
- Hans India
Kerala Financial Corporation records ‘best ever' performance
Thiruvananthapuram: 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.
