Muthoot Finance, which has an average loan size of Rs 40,000, expects to maintain the Non-Performing Assets (NPA) at the current levels going forward.
The company is looking to grow its assets under management by 10 per cent this fiscal. Plans are afoot to open 300-400 branches this fiscal, taking the overall network to about 4,500 branches. Muthoot Finance’s existing network of 4,240 branches is next only to State Bank of India and Punjab National Bank, however the gold financing major has yet not decided to apply for banking license.
Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.
