The Muthoot Group opens its 1000th branch at Vazhakkala

The Muthoot Group, A Muthoot M George Enterprise, today announced the opening of their 1000th branch at Vazhakkala, Kochi, Kerala. The 122 year old Rs. 20,000 crores business conglomerate today has diverse interests in 16 business verticals ranging from Financial Services, Infrastructure & Housing, Information Technology, Power Generation, Hospitality to Healthcare & Education. The group has a presence in 20 states across the country and international presence in the UK and UAE.

Speaking on the occasion Mr. M. G. George Muthoot, Chairman, The Muthoot Group, A Muthoot M George Enterprise, said “It is a matter of extreme pride for us to have grown from 450 to 1000 branches in a span of less than three years. With every new branch, and with the addition of every new Muthoot customer, we re-iterate our commitment to ensuring trustworthy flawless services coupled with our unblemished track record of 122 years. We aim to operationalize 1500 branches by the end of FY 2010.” “Our steadfast resilience and complete dedication towards our customers spread across India and even overseas has provided us the zeal to innovate constantly and to offer customer-centric products & services,” he added.

Mr. M. G. George Muthoot, Chairman, The Muthoot Group, A Muthoot M George Enterprise addressing the media at the opening of the group’s 1000th Branch

The group established in the year 1887 by Mr. Ninan Mathai Muthoot, whose ‘2 elephants in unison’ logo denotes strength & stability, The Muthoot Group, A Muthoot M George Enterprise firmly believes in its values of honesty, integrity and determination.

The financial services division of the Group, Muthoot Finance was established in 1939 under the leadership of Mr. M. George Muthoot. It offers multiple services including retail gold finance, deposits, money transfer, insurance, precious metals and foreign exchange to name a few. Muthoot Finance has served over 250 million customers and has a customer footfall of around 30,000 every day seeking retail gold finance. The vast branch network of Muthoot Finance enables the Group to cross and up-sell various products and services of the other verticals of the Group.

Muthoot Finance 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’. This is the fastest and the most hassle-free way to avail loans at the most attractive rates against Gold.

The Muthoot Group, A Muthoot M George Enterprise is actively looking at opportunities for inorganic growth in healthcare, travel related services and entertainment. The Hospitality division of the group has plans of launching a 7-Star Deluxe Hotel in Kochi amongst its other plans for the current fiscal. The Group has also launched its global arm “Muthoot Global“, which mainly deals in Wealth Management, Cash Transfer & Gifting and has a presence in the UK and UAE and plans to expand the network and diversify its foreign operations in the immediate future to more shores outside the country.

For more information, please visit www.muthootgroup.com