Founded by M. George Muthoot in 1939, Muthoot Finance Ltd has emerged as the Muthoot Group’s flagship company, providing financial services to people in need. Listed on the NSE (National Stock Exchange of India) and BSE (Bombay Stock Exchange Limited), it is a systematically important non-deposit taking non-banking financial company (NBFC).
Muthoot Finance Ltd is the largest gold financing company in India in terms of loan portfolio. The company provides personal and business loans secured by gold jewellery. It has financing, power generation and FM radio as the main divisions.
A pioneer and leader in the sector, Muthoot Finance undertook revolutionary steps in promoting loans against household gold jewellery with least hassle and documentation.
During FY 13, Muthoot recorded a growth of 18 per cent in revenues, rising from Rs 4,549 crores to Rs 5,387 crores. Net Profit grew at 13 per cent, crossing another major milestone at Rs 1,004 crores, compared to Rs 892 crores achieved in fiscal 2012. The branch network (4,082 branches) also witnessed 11 per cent growth, enabling wider presence across the 21 states and four union territories where it operates.
Muthoot Finance: Banker to the Unbanked
|2013||Obtains RBI license to start operating 9,000 White Label ATMs|
|2012||Receives an award for ‘Excellence in Corporate Governance’ by the Institute of Directors in London|
|2008||Converts into a public limited company|
|2004||Receives highest rating of F1 from Fitch Ratings for a short-term debt of Rs 200 million|
|2001||Receives an RBI license to function as an NBFC|
Updated: April, 2014