Early Life
George Alexander Muthoot was born on September 16, 1955, in Kozhencherry, Kerala, India. He comes from a business-oriented family; his father, Ninan Muthoot, founded the Muthoot Group. He developed a keen interest in finance and commerce from an early age. He obtained a Bachelor of Commerce degree from St. Thomas College, Kozhencherry, University of Kerala, earning a gold medal for topping the state. He is also a Chartered Accountant certified by the ICAI, securing All India Rank 18 in the final examinations.
Rise to Success
In February 1993, George Alexander Muthoot became the Managing Director of the Muthoot Group, overseeing its significant expansion. He is also the Managing Director of Muthoot Finance, India's largest gold loan company, with assets exceeding ₹263.87 billion. Under his leadership, the company has grown to over 5,000 branches and serves more than 200,000 customers daily. He is the President of the Association of Gold Loan Companies in India.
Key Business Strategies
Muthoot Finance focuses on providing gold loans, offering short-term funding to various individuals and businesses. The company is known for catering to underserved rural and semi-urban markets, expanding into non-gold loan offerings. The Muthoot Group has also expanded its operations internationally, with a presence in the UK, the US, and the UAE.
Philanthropy
Through the Muthoot M. George Foundation, George Alexander Muthoot is actively involved in philanthropic activities, particularly in education and healthcare, with a focus on addressing kidney-related ailments. The Muthoot Group has a long history of corporate social responsibility (CSR) initiatives, including education, environment, sanitation, and health. The group's CSR initiatives are implemented under the umbrella program “Haathi Mera Saathi”. The Muthoot Group has also launched an Individual Social Responsibility (ISR) initiative called Muthoot WeCare ISR.