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Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies © Jagyaseni Biswas Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
The business of offering loans using gold as collateral has mushroomed across the country in recent years. But nowhere has this business been as enmeshed in the social fabric of a people than in Kerala. And no company in Kerala has been so closely identified with this business than the Muthoot group.
Sample this: about 90 per cent of the contribution to the group’s consolidated loan assets is from Muthoot Finance, the flagship company that focusses on the gold loan business, according to its latest investor presentation. Around 90 per cent of the Muthoot Finance assets are in gold loans.
DelhiIndiaPathanamthittaKeralaMumbaiMaharashtraSri-lankaGeorge-thomas-muthootGeorge-poothottamKochouseph-chittilappallyKerala-padmanabhaswamyAlexander-george-muthootIn 1979, he became the group's managing director, and by February 1993, had become the group's chairman. In doing so, he became the third generation of his family to head the Muthoot Group after his grandfather and his father.
A split in the Muthoot family in the 1980s saw the family's empire divided between his cousin brothers and himself which, eventually, led to the creation of Muthoot Pappachen Group, another diversified entity that ran a rival gold loan enterprise Muthoot Fincorp.
But under his leadership, Muthoot Finance turned into one of India's leading gold loan non-banking financial companies becoming the first-ever NBFC to break the Rs 1,000 crore net profit ceiling.
ManipalKarnatakaIndiaPathanamthittaKeralaDelhiGeorgem-georgeMathai-george-muthootSara-georgePaul-muthoot-georgeAlexander-georgeForbes-asiaMuthoot Group Chairman MG George Muthoot, Kerala's Richest Man, Falls To Death At His Delhi Home
by Swarajya Staff - Mar 7, 2021 01:47 PM
Muthoot
Snapshot
Muthoot Group Chairman MG George Muthoot, Kerala's Richest Man, Falls To Death At His Delhi Home.
Muthoot, who was also the trustee of the influential and powerful Orthodox church of Kerala, is widely credited for transforming his group's flagship firm Muthoot Finance Ltd in to financial behemoth
Muthoot group Chairman MG George Muthoot passed away at his residence in Delhi on Friday (Mar 6) night. He was 72.
âM G George Muthoot's sudden and unexpected demise will be an irreparable loss to the Company, employees, all stakeholders, family, and friends. All directors and employees of the Company convey deep sympathy, sorrow and condolences to his family," the Muthoot Finance said in a regulatory filing on Saturday (Mar 6) without giving reason for the cause of death.
DelhiIndiaKeralaNew-delhiPaul-muthoot-georgeAlexander-georgeGerogem-georgeMg-george-muthootSarah-george-muthootPaul-muthootGeorge-muthootSt-george-high-school