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The Muthoot Group to add 400 Branches, tally to go up to 1500 by Sept ‘09

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Group to add 3000 employees across 20 states to cater to growing demand

The Muthoot Group, A Muthoot M. George Enterprise, one of the largest financial groups in the country having diverse business interests, has ushered the new financial year with the announcement of adding 400 more branches to its expanding network in the coming 6 months. This addition will take the branch count across the country to 1500 by September 2009.

Speaking on the occasion, Mr. M. G. George Muthoot, Chairman, The Muthoot Group, said “We offer quick, hassle-free loans solutions & other financial services and there has been a growing demand for these products. We are opening these branches to ensure we 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.”

“Taking inspiration from our two elephant logo, we have always believed in putting in effort and growing despite adverse conditions. We expect to add around 3000 employees to cater to this growth.” added Mr. M. G. George Muthoot.

The Muthoot Group, with a network of over 1100 branches across the country has an annual turnover of Rs. 20,000 crores. The group’s multiple interests in businesses range from Financial Services, Infrastructure & Housing, Information Technology, Power Generation, Hospitality, Media to Healthcare & Education.

Muthoot Finance Ltd., the flagship company of The Muthoot Group, is the pioneer in ‘Retail Gold Finance’ and is the largest player in this segment worldwide. In continuation of its tradition in revolutionizing the retail gold finance, it has conceptualized ‘5-Minute Gold Power Loans’.

Written by sreelakshmi

13 April, 2009 at 8:21 pm