KOLKATA: Muthoot FinCorp Limited has forayed into West Bengal. The Muthoot Pappachan Group flagship, the company unveiled its first branch in Kolkata on Tuesday and announced plans to open atleast five branches across the city soon.
Going forward, the company plans to set up some 25 branches in West Bengal in this financial year, said Thomas John Muthoot, chairman & managing director, Muthoot FinCorp.
The maiden branch as well as others in the offing will offer a bouquet of products & services to Bengal residents including – express 3 minute gold loan.
West Bengal is a new target market for Muthoot FinCorp as the state, company officials are of the view, has immense potential given its huge base of lower income & middle income population. The thriving unorganised sector, especially in Kolkata, offers huge potential to the organised players, the official pointed out.
Incidentally, Muthoot FinCorp has strong presence in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi, Uttar Pradesh, Rajasthan, Haryana, Punjab, Maharashtra & Madhya Pradesh. It presently has 2267 branches across the country.
Originally Posted on: