Magma Fincorp announced its ambitious growth plans for Kerala for the financial year 2012. The company, which disbursed Rs 249 crore in Kerala in FY 2011, plans to romp up
disbursements by another 50 per cent in retail loans in the state in FY 2012. Magma, headquartered in Kolkata, already has a footprint in the state with its six offices. Dhrubasish Bhattacharya, Vice President, Magma Fincorp, said, "We will continue with our focus on providing asset finance to the economically disenfranchised in Kerala and expect to further grow in the state. This will help in strengthening our market share in each of the segments."