KFC hands over Rs 15.43 Cr dividend to KM Mani
Kerala Financial Corporation (KFC) declared its financial results for the Year 2011-12 and handed over of a cheque of Rs 15.43 crore to Finance Minister KM Mani, here today.
KFC has scaled new heights by registering the highest ever profit of Rs 45.65 crore for the FY 2011-12.
The Corporation also increased the size of its assets to Rs 1240 crores as on March 31 from Rs 1124 crore as on March 31, 2011.
The sanctions registered a figure of Rs 539 crores and disbursements registered a figure of Rs 464.57 crore.
Buoyed by the all-time best performance of KFC, a dividend of 7.5 per cent on paid up capital was declared by the Corporation in its Annual General Meeting held on July 11.
Another Rs 2.58 crore of dividend tax is payable to the Government of India. This is the highest dividend declared by any PSU in the State.
The improvement in its appraisal methods, introduction of objective credit rating system, etc by KFC has tremendously increased the quality of its assets and advances and the Corporation has been able to reduce its gross NPA percentage from 8.20 pc to 3.60 pc and net NPA from 1.88 pc to 1.30 pc .