Mr. M.G George Muthoot, Chairman, Muthoot Group, was recently honoured with two prestigious awards – Kerala State Business Excellence Award and Gem & Jewellery Trade Council of India Excellence Award. These awards are in recognition of the stellar role the company has been playing in the field of financial services in the state of Kerala and towards the growth and progress of the jewellery industry.
Says M.G George Muthoot, Chairman, Muthoot Group: “The main guiding principles of our company are trust, ethics, values, reliability, dependability, trustworthiness, integrity and goodwill. We are glad that the organisers have recognized our company principles and contributions towards the industry and honoured us with this award.”
Mr. M.G George Muthoot was conferred with the 'Business Leader of the Year' at the Kerala State Business Excellence Award held at Kochi recently. The award that celebrated the spirit of excellence in business leadership in Kerala was presented by Mrs. Judy Paul (Mayor of Florida, United States of America), Mr. M.P. Joseph (I.A.S. Adviser to Labor Minister I/R Additional Chief Secretary, Government of Kerala) and Mr. TIM Guillos (CEO of Links Groupe, France). The award was organised by Cochin Herald in association with Humriyah Free Zone Authority, Government of Sharjah.
The Gem and Jewellery Trade Council of India (GJTCI) organized the ‘GJTCI-Excellence Awards for the first time at Ahmedabad, Gujarat. The awards felicitated trade members, who have contributed immensely towards the growth and progress of the jewellery industry through their hard work and dedication. The award was presented by Mayor of Ahmedabad Smt. Minakshiben Patel and GJTCI President Shri Shantibhai Patel.
Mr. M.G George Muthoot has been a visionary and a successful entrepreneur, who changed the nomenclature of his business. Under his stewardship, Muthoot Finance Limited, the flagship company of the Muthoot Group, became the sole connect for people living in rural and semi-urban areas and thereby, playing a big role in financial inclusion. The Muthoot Group under the leadership of Mr. Muthoot has broadened its scale, widened its geographic scope of retail operations, and built a formidable business empire.
About Muthoot Group
Muthoot Group’s business origins can be traced back to 1887 when it started as a small trading business enterprise in Kozhencherry, a remote village in the state of Kerala. Since its formation, the company, under the leadership of its key management – Shri M.G. George Muthoot (Chairman), Shri George Alexander Muthoot (Managing Director), Shri George Thomas Muthoot (Jt. Managing Director) and George Jacob Muthoot (Jt. Managing Director) has broadened its scale and widened its geographic scope of retail operations. Today, Muthoot Group is a multi-faceted business conglomerate that has been serving the nation for over 126 years. The formidable business empire comprises of 16 divisions including Financial Services, Plantations & Estates, Education, Leisure & Hospitality, Healthcare, Housing & Infrastructure, Infotech, Money Transfer, Forex, Media, Power Generation, Precious Metals, Securities, Vehicle& Asset Finance, Travel Services, Muthoot Global and Muthoot Money. Headquartered in Kochi and having its Corporate Office in New Delhi, the company has a dominant presence in over 21 states & 4 Union Territories of India. It also has its presence in USA, UK and UAE too.
Muthoot Finance Limited, the flagship company of the Group, has been playing a pivotal role in financial inclusion under the Chairman's stewardship. Muthoot Finance Ltd. is a “Systemically Important Non-deposit taking NBFC” and the largest gold financing company in India in terms of loan portfolio, according to the IMaCS Research & Analytics Industry. The Company provides financial inclusive Loans, primarily to individuals who possess gold jewellery but could not access formal credit. With a branch network of 4400 plus branches and bank ready infrastructure, the company has a dominant presence in 21 States, 4 Union Territories, 1072 cities, 364 districts and 1240 talukas. The minimum loan amount to a customer starts from INR 1500. Since listing, the company has disbursed INR 2,97,543 crores as loans, out of which INR 98,682 crore is disbursed in rural & semi urban areas. In 2012-13, the company's revenue stood at INR 5387 crores. The profit after tax grew from INR 494 crores (FY 10-11) to INR 1004 crores (FY 12-13). Not only this, their inward remittances business was INR 6171 crores with 100% compliance where 75% of the customers were from GCC countries. With, Muthoot Gold Life, their new insurance product, over 4,00,000 people have been covered in the last four months. In 2012-13, the company's forex business stood at INR 442 crores.
Recently, the company has expanded its hospitality division by acquiring a resort at Costa Rica in Latin America.