Money & Banking

Kerala Financial Corp pays dividend

Our Bureau Thiruvananthapuram | Updated on August 02, 2013 Published on August 02, 2013

Public sector Kerala Financial Corporation is the highest contributor of dividend to the State Government, according to Finance Minister K.M. Mani.

He said this while receiving a cheque of Rs 16.46 crore from P. Joy Oommen, CMD of Kerala Financial Corporation, as dividend for 2012-13.

Mani complimented the corporation for achieving a record-breaking Rs 66.83 crore in profit during the year. Its capital adequacy ratio (buffer against lending) had shot up to 24.94 crore against the Reserve Bank-mandated minimum of nine per cent.

This was achieved mainly through lending/asset building even as the corporation was proactive in reducing non-performing assets. The minister also praised dedicated work put in by employees of the corporation.

Published on August 02, 2013
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