Muthoot Fincorp, part of Muthoot Pappachan Group (Muthoot Blue) has set its focus on western, eastern and northern markets in addition to its resounding success in southern markets. Well known as a leading company providing Gold Loans, Muthoot Fincorp presently has close to 3600 branches in India, with seventy percent in southern markets.
Muthoot Fincorp which has 342 branches in western India with 33 in Vidarbha region and 7 in Nagpur, is now planning to expand with 40-50 new branches in the western region, informed Vasudevan Ramaswami, Chief Operating Officer, Muthoot Fincorp Ltd.
Vasudevan Ramaswami added that we have products to serve all the lifecycle needs of common man, with products across five categories of Gold loans ~for every stage of their life cycle~. This has given a common man more power and freedom to choose as per the needs and financial situation. The new corporate philosophy of Blue Soch reflects the product focus on these lifestyle needs.
The company has Rs 12000 cr Asset Under Management out of which west zone contributes Rs 1400 cr. Muthoot Fincorp has recorded a healthy growth of 16% for FY 18-19.
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