THIRUVANANTHAPURAM: The Kerala Financial Corporation (KFC) has posted a net profit of Rs 6.58 crore for the 2020-21 financial year. The loan sanctions registered a growth of 150 per cent to Rs 4,147 crore and disbursal stood at Rs 3,709 crore. The total income was Rs 491 crore.
“Though the economy is under severe stress due to Covid, KFC could position itself well and improve its performance in terms of loan portfolio, sanctions, disbursements and recovery. It could also control NPA levels,” said Sanjay Kaul, CMD of KFC.
The Gross NPAs have been brought down to 3.58% and net NPAs to 1.48%, he said. The net worth increased by 16% to Rs 678.35 crore and the capital to risk-weighted assets ratio (CRAR) is at 22.85 per cent.