Assets Under Management AUM

Muthoottu Mini Financiers Ltd. records growth of 18%

Kochi (Kerala) [India], June 26 (ANI / NewsView): Muthoottu Mini Financiers Ltd. (MMFL), one of India’s leading non-bank financial institutions (NBFCs), today announced its annual financial results. The company recorded growth of 18% in fiscal year 2020-21.

Muhoottu Mini has successfully solved the problem of the COVID-19 pandemic and is committed to a dedicated commitment to innovation in all areas of the business. In fiscal year 2020-21, Muthoottu Mini saw an 18% increase in assets under management (AUM) and a 65% increase in profit before tax (PBT). The company also recorded an increase in interest income of 17.50 percent.

Mathew Muthoottu, Managing Director of Muthoottu Mini said: PE Mathai, CEO of Muthoottu Mini said: This year’s numbers are on track with plans for significant growth going forward. We have taken steps to strengthen our digital platform to facilitate customer transactions and maintain a high level of customer service. In 2020-2021, we have a moratorium on Rs. Rs 70 billion on the issuance of non-convertible bonds (NCD). In addition, Muthoottu Mini also recorded excellent organic growth, with the addition of four additional credit banks during the period. Twenty-three branches and five zone offices were added during the year.

Going forward, Muthoottu Mini has taken steps to further stimulate digital innovation. Muthoottu Mini also launched a major expansion and restructuring initiative to meet growth expectations of 75% and open 100 new branches one year later. Currently, the average unpaid activity per branch is 2.5 chlorines, and Muhoottu Mini plans to increase it to 4 chlorines per branch.

Muthoottu Mini Financiers Limited is a non-bank financial institution (NBFC) founded in 1921 by visionary Mr. Mathew Muthoottu as a public financial institution. Today it has grown into a large NBFC (established in 1998) with 800 branches across India. Over the years, we have achieved multi-faceted growth while staying true to this vision. Easy-to-access gold loans are the core business of the company. The extensive branch network established for many years in Kerala, Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Pondicherry, Maharashtra, Goa, Delhi, Gujarat and Haryana allows the public to lend money. Easy access. To provide our clients with a unique experience, we also offer wealth management, money transfer (domestic and international), RechargeBill Payments, insurance and travel tourism services.

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Muthoottu Mini Financiers Ltd. records growth of 18%

Muthoottu Mini Financiers Ltd. records growth of 18%

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