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Muthoot Fincorp, the flagship company of the Muthoot Pappachan group, plans to open 200 retail branches to add to the 3,500 it already runs, Chairman and Managing Director Thomas John Muthoot said in Mumbai on Thursday.
The company offers gold and MSME loans and that’s core offering for them.
The new branches will be opened in northern India to have a better pan-India balance.
About 65 per cent of the company’s branches are located in southern India with the rest spread across India.
The Group’s micro finance unit, Muthoot Microfin, separately plans to open 125 new branches, Chief Executive Officer Sadaf Sayeed said.
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