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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.
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