Press Release23 Aug 2024, 02:17 am
Muthoot Microfin Expands to Andhra Pradesh, Opens First Branch in Chodavaram
AI Summary
Muthoot Microfin, a leading microfinance institution in India, has announced its expansion into Andhra Pradesh with the opening of its first branch in Chodavaram. The new branch aims to foster economic growth and development in the state by offering financial services tailored to the needs of low-income households and women-owned businesses. The solutions are designed to promote financial inclusion among women, with a focus on quick turnaround times and hassle-free processing. As of June 30, 2024, the Company had 3.4 million active customers and a Gross Loan Portfolio of 12210.25 Cr.
Key Highlights
- Muthoot Microfin expands its network to 20 states, serving over 3.4 million customers
- New branch in Andhra Pradesh aims to bring expertise in micro-lending to the state
- Focus on empowering low-income households and women-owned businesses
- Prioritizing women entrepreneurs, the branch will provide income-generating loans and support
- Muthoot Microfin is part of S&P BSE Financial Services Index