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Muthoot to add 400 more branches

KOCHI: The Muthoot Group is to add 400 more branches to its network in six months. This will take the branch count across the country to 1,500 by September.

M.G. George Muthoot, Chairman, said opening of these branches would ensure that the group reach out to the unmet demand. “While others are hesitant in giving loans, we are increasing our loan portfolio significantly. Over our 122-year-old existence, more than 25 crore people have benefited from the gold-based lending pioneered by us,” he said.

The Muthoot Group has an annual turnover of Rs.20,000 crore. The group’s multiple interests in business range from financial services, infrastructure and housing, information technology, power generation, hospitality, media to healthcare and education. Muthoot Finance Ltd., flagship company of the Muthoot Group, is the pioneer in ‘retail gold finance’.

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