Posted on: June 6, 2023 Posted by: dsprime Comments: 0

Throughout the year, KLM Axiva Finvest experienced a surge in deposits, reaching an impressive 1314 crores

The company achieved a remarkable profit of 24.63 crores, reflecting a substantial increase of 42 per cent in profit before tax payments. This significant growth can be attributed to the success of our microfinance and gold loan divisions.

Kochi (Kerala) [India], June 6: KLM Axiva Finvest, a renowned financial services firm, is pleased to announce its exceptional financial performance for the last fiscal year. The company achieved a remarkable profit of 24.63 crores, reflecting a substantial increase of 42 per cent in profit before tax payments. This significant growth can be attributed to the success of our microfinance and gold loan divisions. Furthermore, the firm received a substantial interest income of 275.40 crores, marking a remarkable 53% increase compared to the previous year. The total handling assets of the company surged to 1719 crores, a testament to our commitment to sustained growth.

Throughout the year, KLM Axiva Finvest experienced a surge in deposits, reaching an impressive 1314 crores, while the total loans disbursed amounted to 1445 crores. To reinforce our financial stability and provide flexibility for future investments, we secured funds from the latest Non-Convertible Debenture (NCD), backed by gold. This strategic financial maneuver has solidified our position and empowered us to seize strategic growth opportunities. The non-current assets of the company constitute a modest 1.84 per cent of the total assets, emphasizing our commitment to long-term stability and steady growth.

Addressing the company’s growth trajectory, Manoj Ravi, CEO of KLM Axiva Finvest, stated, “We are delighted with the remarkable growth we have achieved in the past year. Expanding our operations into North India by establishing approximately three hundred new branches has allowed us to extend our gold mortgage loan services to a broader customer base. This strategic expansion exemplifies our unwavering commitment to reaching new horizons and serving our customers better.”

KLM Axiva Finvest has embraced its social responsibility as one of the oldest financial institutions and remains steadfast in supporting the social and economic development of Kerala for the past 24 years. Built on a foundation of trust, expertise, and exceptional service, we have fostered enduring relationships with our patrons. Our commitment to maximum security and superior returns on assets has garnered unparalleled loyalty. Today, we proudly serve more than one lakh satisfied customers and counting.

Founded in the year 2000 with a small capital and a dedicated team of five, KLM Group emerged as a result of the visionary aspirations of two entrepreneurs seeking to tap into the untapped NBFC sector in Kerala. Over the years, driven by the desire to grow and with unwavering customer support, KLM has created a legacy of excellence and success.

Staying true to our values of innovation, excellence, and outperforming our contemporaries, KLM Axiva Finvest remains youthful, vibrant, and adaptable to the ever-changing economy. We are committed to empowering individuals and enabling them to realize their dreams through smart and innovative investments. Our core values of integrity, credibility, fairness, impartiality, openness, and transparency underpin our commitment to excel in client servicing.

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