Muthoot Finance
India has emerged as one of the fastest-growing fintech markets in the world with a market size estimated at US$ 150 billion by 2025.
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 5,190 branches all over India. In Sri Lanka, the company offers corporate loans, mortgage loans, factoring, business loans and short-term loans among others.
- 26,399 employees
- Across 23 states and six union territories
- Net Profit of US$ 121.2 million (Rs. 1009.2 crore) was recorded for Q4 of FY23
- The company has over six million customer portfolios
Muthoot Finance: Empowering lives. Transforming India
| Year | Milestone |
|---|---|
| 2023 |
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 US$ 60.8 million (Rs. 500 crore) through public issue of secured NCDs |
| 2022 |
Muthoot Finance announced to raise Rs 300 crore 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 strategy to strengthen its digital footprint. Through this partnership, salaried customers can avail personal loan of up to Rs. 1 lakh (US$ 1,373.81) from Muthoot by downloading the NIRA app. |
| 2020 |
Muthoot Finance 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 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 completes acquisition of Muthoot Insurance Brokers Pvt Limited. |
| 2013 |
Muthoot Finance Ltd, India’s largest gold loan company has announced to launch its maiden Employee Stock Options Plan (ESOP). Muthoot Finance has got the RBI License to start operating 9,000 White Label ATMs. Muthoot Finance branch network crosses 4,400 branches. |
| 2011 |
Muthoot Finance launches the Western Union Money Transfer Service. |
| 2010 |
Branch network of the company crosses 1,000 branches. |
| 2008 |
Conversion of the company into a public limited company. |
| 2007 |
Branch network of the Company crosses 500 branches. |
| 2001 |
RBI license obtained to function as an Non-Banking Financial Company (NBFC). |
| 1997 |
Our 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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