Muthoot Finance
The assets under management growth is expected to double to US$ 1,207 billion (Rs. 100 trillion) by 2030 implying a CAGR of 14% from FY24 to FY30.
Muthoot Finance Limited is a gold financing company. The company is a non-banking financial company (NBFC) that provides loans (financing) against the collateral of gold jewellery. The company operates through two segments: financing and power generation. The company provides personal and business loans (secured by gold jewellery) primarily to individuals having no access to formal credit for a reasonable tenure to meet their short-term working capital requirements. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking, home loans, personal loans, collection services, microfinance, windmill power generation, white label automated teller machine, instant money transfer services and domestic money transfer services. The company has a network of more than 6,100+ branches all over India. In Sri Lanka, the company offers corporate loans, mortgage loans, factoring, business loans and short-term loans among others.
- 40,000+ employees
- Across 23 states and six union territories
- Net Profit of Rs. 1,363 crore (US$ 158.10 million) was recorded for third quarter of FY25
- The company has over six million customer portfolios
Muthoot Finance: Empowering lives. Transforming India
| Year | Milestone |
|---|---|
| 2023 |
Muthoot Finance Ltd has acquired 13.93% of equity share capital of M/s. Belstar Investment and Finance Private Limited (BIFPL) in May 2016 and has entered into binding agreement to acquire another 5.57% cumulatively 19.50%. Shri Alexander George Muthoot, Joint Managing Director of The Muthoot Group, has been honored with the prestigious "Bharat Samman Award 2023" by Alika Educational & Health Society in recognition of his service to the Nation. Muthoot Finance planned to raise Rs. 500 crore (US$ 60.8 million) through public issue of secured NCDs. |
| 2022 |
Muthoot Finance announced raising Rs. 300 crore (US$ 36.1 million) through secured redeemable NCDs. Muthoot Finance got RBI approval to open 150 new branches across India. |
| 2021 |
In September 2021, Muthoot Finance joined forces with Senseforth.ai, a leader in conversational AI technology, to launch ‘Mattu’, an AI-powered virtual assistant. Muthoot Finance collaborated with fintech NIRA as part of a strategy to strengthen its digital footprint. Through this partnership, salaried customers can avail personal loan of up to US$ 1,373.81 (Rs. 1 lakh) from Muthoot by downloading the NIRA app. |
| 2020 |
Muthoot Finance was awarded with Dhanam BFSI Award 2020. |
| 2019 |
Muthoot Finance Limited to acquire IDBI Mutual Fund to foray into Mutual Fund Asset Management space. Muthoot Vishwaas Ki Tijori’ got Silver at ABBY Awards 2019, Gold at Golden Mikes Award 2019 and Flame Awards Asia 2019, respectively. In NBFC sector, Muthoot Group becomes the first to launch an Artificial Intelligence (AI) powered virtual assistant, ‘MATTU and MITTU’. |
| 2018 |
Received an in-principle approval from the Securities and Exchange Board (SEBI) of India to commence asset management operations. |
| 2016 |
Muthoot Finance completed the acquisition of Muthoot Insurance Brokers Pvt Limited. |
| 2013 |
Muthoot Finance Ltd, India’s largest gold loan company, announced the launch of its maiden Employee Stock Options Plan (ESOP). Muthoot Finance got the RBI License to start operating 9,000 White Label ATMs. Muthoot Finance branch network crossed 4,400 branches. |
| 2011 |
Muthoot Finance launched the Western Union Money Transfer Service. |
| 2010 |
Branch network of the company crossed 1,000 branches. |
| 2008 |
Conversion of the company into a public limited company. |
| 2007 |
Branch network of the Company crossed 500 branches. |
| 2001 |
RBI license obtained to function as a Non-Banking Financial Company (NBFC). |
| 1997 |
The company was originally incorporated as a private limited company on March 14, 1997 with the name, “The Muthoot Finance Private Limited”, under the Companies Act. |
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