Muthoot Finance

Thu 31 May 2018

Muthoot Finance Ltd. is an Indian financial corporation. It is known as the largest gold financing company in the world. In addition to financing gold transactions, the company offers foreign exchange services, money transfers, wealth management services, travel and tourism services, and sells gold coins at Muthoot Finance Branches. The company's headquarters are located in Kerala, India, and it operates over 4,400 branches throughout the country. Outside India, Muthoot Finance is established in the UK, the US, and the United Arab Emirates. While the company falls under the brand umbrella of the Muthoot Group, its stocks are listed on the Bombay Stock Exchange (BSE) and NSE. As of March 2012, revenue (after expenditure) stood at more than Rs. 23,000 crore (\$4.2 billion). The target market of Muthoot Finance includes small businesses, vendors, farmers, traders, SME business owners, and salaried individuals. And a.v

Corporate background

Muthoot Finance was founded in 1939. Muthoot Finance to enter capital market through IPO route - Economic Times. The company has been licensed by Reserve Bank of India under Section Companies act of 1956 to function as a Non-banking financial company(NBFC) without accepting public deposits and is specifically exempted from the provisions of the Money Lenders Act in Karnataka and other states. The company's gold loan business constitutes more than 99 percent of its total income. its retail loan assets stand at Rs. 23,763 Crs. the total number of shares of Muthoot Finance held by Individuals/Hindu Undivided Family stood at 80.12 percent and the public shareholdings from Mutual Funds/UTI totaled 3.52 percent.

Awards and recognition

Muthoot Finance won the Skoch Financial Inclusion Award 2013 in recognition of its major initiative in the area of 'Access to Banking and Financial Services' to the aam aadmi who had been excluded from the country's banking network for decades. In 2012, Muthoot Finance was voted the most trusted finance brand in India according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. In the Brand Trust Report 2013 however, Muthoot Finance was voted second-most trusted finance brand in India, but it regained its place as India's most trusted finance brand in the Brand Trust Report 2014. In 2012, the company won the Asian Sustainability Leadership Award for “Best Rural Outreach. BFSI Award for the “Most Admired Loyalty Program” in 2012 at The Asian Leadership Awards heald at Dubai. Golden Peacock Award for CSR being conferred upon Muthoot Finance Ltd. in the financial services sector at the 7th International Conference on Social RESPONSIBILITY at the Dubai Global Convention 2012 In 2013 company won the Golden Peacock Award “HR Excellence for 2013”, which recognizes the continuing commitment by business to conduct itself ethically and contribute to economic development, while improving the quality of life of the workforce.

Philanthropy

All of the philanthropic activities of Muthoot Finance are conducted through the Muthoot M George Foundation, which also conducts tree plantation drives and offers scholarships to the needy on a regular basis. The company is also involved in various philanthropic initiatives, which focus on education through M George Foundation, environment, health, financial assistance and eco-friendliness. With the assistance of the Credai Clean City Movement, the company is associated with the concept of an E-toilet, which was a public sanitation initiative. Additionally, the company holds regular agricultural seminars by the name of “Ente Adukkalathottum” (“My Kitchen Garden”) which educates farmers on the effects of pesticide residues in food and how to counter that for healthier living. It has also been actively involved in helping cancer patients, as well as individuals diagnosed with from kidney diseases, by financially covering medical expenses.The company runs the Kochi Chapter of the “Horn Not Ok Please” initiative, which raises awareness on the harmful effects of vehicular noise pollution. The company has also launched a Centre for Promoting/Creating Road Traffic Awareness at the office of the Asst. Commissioner of Police in Kochi to help raise awareness about road safety and the prevention of traffic accidents.In 2012, the Muthoot Group launched the first Paul George Memorial Tournament, which was aimed at Government School Children in the Delhi NCR region. The winners of the tournament were given scholarships.

References

External links

Official website Muthoot Finance at Bombay Stock Exchange Muthoot Finance at National Stock Exchange of India