Muthoot Group to open 400 branches; hire 3,000 people

NEW DELHI: Muthoot Group on Monday said it will open 400 branches in the next six months and hire 3,000 persons to meet its expansion plans.

"We are opening these branches to ensure we reach out to the unmet demand. While others are hesitant in giving loans, we are increasing our loan portfolio significantly," the Muthoot Group Chairman M G George Muthoot said.

With the addition of 400 branches, the total branch tally of the group would rise to 1,500 by September this year.

He added, "We have always believed in putting in effort and growing despite adverse conditions. We expect to add around 3,000 employees to cater to this growth."

The Muthoot Group, with a network of over 1,100 branches across the country has an annual turnover of Rs 20,000 crore. The group has multiple interests in businesses ranging from financial services, infrastructure & housing, information technology, power generation, hospitality, media to healthcare and education.