Muthoot Finance

Muthoot Finance
TypePublic
IndustryFinancial services
Founded1939 (1939)
HeadquartersKochi, Kerala, India
Key people
ProductsMortgage loans, Insurance, Mutual funds;
RevenueIncrease ₹12,237 crore (US$1.3 billion) (FY22)[1]
Increase ₹9,666 crore (US$1.0 billion) (FY22)[1]
Increase ₹4,031 crore (US$420 million) (FY22)[1]
Total assetsIncrease ₹54,881 crore (US$5.7 billion) (2020)[2]
Total equityIncrease ₹11,414 crore (US$1.2 billion) (2020)[2]
Number of employees
53,000+ (2026)[3]
ParentThe Muthoot Group
Subsidiaries
  • Muthoot Homefin (India) Limited
  • Muthoot Insurance Brokers Private Limited
  • Belstar Microfinance Limited
  • Asia Asset Finance plc
[4]
Websitewww.muthootfinance.com

Muthoot Finance Ltd is an Indian financial corporation and the largest gold loan NBFC in the country.[5] In addition to financing gold loans, the company offers other forms of loans, insurance and money transfer services, and sells gold coins. The company is headquartered in Kochi, Kerala, and operates over 7,500 branches in the country. Outside India, Muthoot Finance is established in the UK, the US, and the United Arab Emirates.

The company falls under the brand umbrella of the Muthoot Group. Its shares are listed on the BSE and NSE since its initial public offering in 2011.[6][7] The target market of Muthoot Finance includes small businesses, vendors, farmers, traders, SME business owners, and salaried individuals.

History

Muthoot Finance branch in Swargate, Pune

The company was incorporated as a private limited company on 14 March 1997 with the name "The Muthoot Finance Private Limited" under the Companies Act.[8]

On 18 November 2008, the company was converted into a public limited company with the name "Muthoot Finance Limited".[9] During the year 2009–10, the company added 620 new branches.[10]

In 2014, Muthoot Finance acquired a majority stake in Asia Asset Finance plc, a Sri Lankan publicly listed financial services company.[11]

In July 2016, Muthoot Finance acquired 46.83% of the capital of Belstar Investment and Finance Private Limited (BIFPL).[12]

In May 2018, Muthoot Finance acquired Muthoot Money, a Non Deposit taking Non-Banking Financial Company.[13]

In July 2026, the Reserve Bank of India Imposed a ₹5.80 lakh penalty on Muthoot Finance for non-compliance with KYC directions and transaction monitoring guidelines.[14]

In August 2026, the board of directors recommended the appointment of Alexander George as Managing Director , effective October 1 2026, subject to shareholder approval at the upcoming Annual General Meeting.Under the proposed management transition, incumbent Managing Director George Alexander Muthoot was names Executive Vice Chairman, while K. R. Bijimon was elevated to CEO.[15]

Operations

In 2026, the company reported an improvement in asset quality, with Gross Stage 3 asset declining sequentially to 2.28% and Net Stage 3 assets standing at 1.99%[16]

As of 2026, Muthoot Finance operates a network of over 7,500 branches across India, and bank as over 53,000+ employees across its corporate operations. The Company reports having served over 70 crore customer transaction, including repeat borrowers, since its inception.[3]

References

  1. 1 2 3 "Muthoot Finance Q4 profit slides to Rs 1,006 cr as interest income falls". Business Standard. Retrieved 25 August 2023.
  2. 1 2 "Muthoot Finance Ltd. Financial Statements". Moneycontrol.com.
  3. 1 2 "About us | Muthoot Finance Ltd". Archived from the original on 23 July 2013. Retrieved 19 August 2026.
  4. ↑ "Muthoot Finance". Muthootfinance.com. Retrieved 1 August 2020.
  5. ↑ "Muthoot Finance cashback scheme launched for customers amid COVID-19 pandemic". Zee Business. 14 July 2020.
  6. ↑ "Indian Billionaire George Muthoot's Pot of Gold". Forbes. Retrieved 11 February 2023.
  7. ↑ "Muthoot Finance sets IPO price band at Rs 160-175 per share". Business Today. 13 April 2011. Retrieved 11 February 2023.
  8. ↑ "Muthoot Finance History". The Economic Times.
  9. ↑ "Muthoot Finance Ltd". Moneycontrol. Retrieved 20 July 2020.
  10. ↑ "Muthoot Finance Ltd". Business Standard.
  11. ↑ "Muthoot Finance acquires Sri Lankan company". The Hindu. 31 December 2014. Retrieved 25 August 2023.
  12. ↑ "Muthoot Finance Ups Stake in Belstar Investment". Ndtv.com. 27 July 2016.
  13. ↑ "Muthoot Finance acquires Muthoot Money". Business Standard. 30 October 2018.
  14. ↑
  15. ↑ "Muthoot Finance recommends Alexander George as Managing Director from October 1 - CNBC TV18". Cnbctv18.com. Retrieved 19 August 2026.
  16. ↑ "Muthoot Finance Q1 Standalone Net Profit Rises 25% YoY to ₹2,550 Crore". Sahi.com. Retrieved 19 August 2026.
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