Muthoot Finance is eyeing 15-20% growth in its gold loan business during FY21 and hopes the gold portfolio to remain largely unaffected by the coronavirus pandemic. The company has witnessed a 22 per cent growth in its gold loan portfolio in the last financial year ended March 2020.
Currently, the company's gold loan AUM stands at Rs 46,000 crore. Around 90% of the company's business comes from the gold loan portfolio, while the rest of the 10% from microfinance, vehicle finance and affordable housing finance put together.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
