Thiruvananthapuram, April 3 (IANS): State-owned Kerala Financial Corporation (KFC) registered a record growth in critical operational areas like sanction, disbursement and recovery for the 2013-14 financial year.

The year-end figures show that KFC has sanctioned Rs.989.48 crore as loans to MSME (micro-small-medium enterprises) sectors of the state with a growth of 49 percent over the previous fiscal.

The loan disbursed stood at Rs.754.73 crore during the fiscal ended 2013-14.

The total recovery during the period stood at Rs.568.61 crore.

P. Joy Oommen, chairman and managing director of KFC, said the results could be achieved on account of customer-centric policies, inspired performance by its staff, and re-engineering of its business processes.

"During 2013-14, we added a large number of new customers and gave special attention to young entrepreneurs. We are proud that KFC has achieved an all-time record growth in sanction disbursement and turnover," said Oommen.