Kochi 13, 2021: Shri. M. G. George Muthoot (1949-2021), Group Chairman of The Muthoot Group of Companies spent all his life relentlessly striving to ensure that millions of marginalised people across the length and breadth of our country benefitted from Financial Inclusion. His unparalleled philanthropic and CSR initiatives coupled with hugely popular and affordable products & services provided countless Indians with the benefits of a formal financial system, transforming their dreams into productive reality.
He took over as Chairman in 1993, and with his dynamic and charismatic leadership, he propelled The Muthoot Group to cross several milestones, with the flagship company Muthoot Finance firmly establishing itself not just as the Category Leader within the Gold Loan space, but also emerging as a strong, home-grown, Indian Financial Powerhouse with global footprints across USA, UK, UAE, Costa Rica, Sri Lanka and Nepal.
At no point did he let his determination and focus on pursuing philanthropic initiatives in key sectors that directly impact the future of a country such as education, healthcare and finance, ever ebb. These initiatives helped comfort the lives of countless people across various sections of our society and the nation at large
His deep dedication and ceaseless energy brought The Muthoot Group to the forefront of the Banking & Financial Services Sector in India with +5300 branches across India and 20 diversified divisions. Hereon, his words, teachings and wisdom will continue to light up our paths as we pledge to remain unwaveringly committed to live and work by his ideals and values.
In fond memory of this legendary visionary, The Muthoot Group is launching the M. G. George Muthoot Cancer Centre in Kozhencherry, Kerala for the treatment of poor and lesser privileged Cancer patients, starting today. This state-of-the-art Cancer Centre will be at the forefront offering cancer treatment to the marginalised sections of our society. Furthermore, the second Muthoot Hospital in Pathanamthitta, Kerala will be offering Heart treatment facilities to the lesser privileged sections of our Society. For more details, please visit: www.MGGeorgeMuthoot.com
On the special 40th day Prayer Service organised in memory of Shri M. G. George Muthoot at his hometown in Kozhencherry; the entire Muthoot Family and the entire Muthoot Group stood unitedly committed to carry forward his business and philanthropic legacy to even greater heights.
About Muthoot Finance Limited
Muthoot Finance Ltd – a “Systemically Important Non-Deposit Taking NBFC” (NBFC-ND-SI) – is the largest gold loan NBFC in India. Its operating history has evolved over 82 years since M George Muthoot (the father of the Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887. The equity shares of the Company are listed on the National Stock Exchange of India Limited and BSE Limited since 2011. The Company has a branch network of 4500-plus branches across 23 states, the National Capital Territory of Delhi and five Union Territories in India. It serves around 200,000-plus retail customers daily for Gold Loans and Other Products and has a retail investor base of about 200,000-plus for its Non-Convertible Debentures. It employs more than 25,000 persons in its operations to serve the financial needs of all Indians, be it individuals or MSMEs in the mission to make them Atmanirbhar. Its loan assets stood at Rs41,611 crores as of 31 March 2020 and it generated Profit after Tax of Rs3,018 crores for FY2020. Its net worth stood at Rs14,178 crores with a Capital Adequacy Ratio of 26.38% as of 31 December 2020. Profit after Tax stood at Rs2,726 crores for the 9 months ending 31 December 2020 and loan assets stood at Rs50,391 crores as of 31 December 2020.
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