Kerala Financial Corporation grows 49% in credit disbursement to MSMEs
Updated: Apr 04, 2014 03:52:39pm
Thiruvanathapuram, Apr 4 (KNN) The industrial financing institution, Kerala Financial Corporation (KFC) has extended Rs 989.48 crore as loans to the micro, small and medium (MSME) sectors of the state and achieved a growth of 49 per cent over the previous financial year.
KFC has registered a record growth in critical operational areas like sanction, disbursement, recovery, interest income during 2013-14.
The total loan disbursed was Rs 754.73 crore with a growth of 58 per cent. While, the total recovery figure for the year stood at Rs 568.61 crore, a KFC release said here.
Commenting upon the growth, Chairman and Managing Director of KFC, P Joy Oomen said, “During 2013-14, we added a large number of new customers and gave special attention to young entrepreneurs,” said Kerala biz news quoting Oomen.
KFC has 16 branch offices with headquarters at Thiruvananthapuram and zonal offices at Kozhikode, Ernakulum and Thiruvananthapuram.
The main objective of KFC is the rapid industrialization of the state by extending financial assistance to micro, small and medium enterprises in manufacturing and service sector.
As part of its corporate social responsibility, KFC has set up KFC-CARE (Centre for Assistance and Rehabilitation) to rehabilitate and serve the marginalized sections of the community. (KNN/SD)
KFC has registered a record growth in critical operational areas like sanction, disbursement, recovery, interest income during 2013-14.
The total loan disbursed was Rs 754.73 crore with a growth of 58 per cent. While, the total recovery figure for the year stood at Rs 568.61 crore, a KFC release said here.
Commenting upon the growth, Chairman and Managing Director of KFC, P Joy Oomen said, “During 2013-14, we added a large number of new customers and gave special attention to young entrepreneurs,” said Kerala biz news quoting Oomen.
KFC has 16 branch offices with headquarters at Thiruvananthapuram and zonal offices at Kozhikode, Ernakulum and Thiruvananthapuram.
The main objective of KFC is the rapid industrialization of the state by extending financial assistance to micro, small and medium enterprises in manufacturing and service sector.
As part of its corporate social responsibility, KFC has set up KFC-CARE (Centre for Assistance and Rehabilitation) to rehabilitate and serve the marginalized sections of the community. (KNN/SD)
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