India’s Leading BFSI and FinTech Companies 2021

62 India’s Leading BFSI and FinTech Companies 2021 Experts’ Views Muthoot Finance Limited As Deputy Managing Director at The Muthoot Group, you are among the young dynamic business leaders in India. Tell us about your background and your foray into the family business. After completing my Advanced Diploma in Business Administration from the Florida International University, I went on to pursue my MBA from the Thunderbird University in Arizona, USA. Soon after, in 2006, I joined the family business and was eventually elevated as the Deputy Managing Director of The Muthoot Group with a clear mission to enhance the Group’s branch network, create brand visibility and introduce technology-led process improvements. I currently manage the Group’s North, East & West India Operations directly and also oversee about 17 critical business functions including Business Growth, Financial Control, People Management, Image Projection, Technological upgradation and Overseas Expansion, besides others. As the youngest son of the Group’s Chairman, Mr. M.G. George Muthoot, the expectations from me were quite high from the very outset. However, our relationship-management led customer approach, encouraging work culture & innovative marketing strategies coupled with high corporate governance standards have helped us make great progress. Our latest IT interventions have also greatly helped our customers by increasing new & convenient customer service channels for them & reducing TAT for customer service. As of today, Muthoot Finance is one of India’s top financial services brands and the largest gold loan company amongst NBFCs. The Group has a global presence across USA, UK, UAE, Costa Rica, Sri Lanka & Nepal. We take humble pride in serving over 72 crore customers including repeat customers, with over 2 lakh customers being served every day through our network of 5000+ pan- India Branches. With all humility, I feel blessed to be a part of this great success story. What are some of the key highlights of the company’s business performance during FY20? FY20 was a historic year for us. In fact, Muthoot Finance was one of the highest tax paying companies in India during the said year, contributing over ` 1,000 Crore in taxes. Our consolidated Profit After Tax in FY20 grew by 51% Y-O-Y to ` 3,169 Crore. We have sustained the momentum in FY21 as well. While the first nine months of FY21 had been extremely challenging for most businesses, Muthoot Finance and its subsidiaries posted a Net Profit of ` 2,795 Crore, which translates to Y-O-Y growth of +20%. Over the same period, our Consolidated Assets Under Management (AUM) grew by 28% Y-O-Y to ` 55,800 Crore. Tell us more about your initiatives towards inclusivity at the workplace. Diversity & inclusion at workplace has always been a topic very close to my heart. As the Deputy Managing Director, I have had the opportunity to champion the cause to actively hire women in key positions across the Group’s Administrative Offices & Branches across India. I am pleased to say that our conscious efforts have borne fruit with more than 30% of our current workforce in key branch leadership positions now held by competent Alexander George Muthoot Deputy Managing Director Dun & Bradstreet