Muthoot Finance is India’s largest gold loan Non-Banking Financial Company (NBFC). According to the Trust and Retention Account (TRA) Brand Trust Report 2020 rankings, Muthoot Finance has won the title of ‘Most Trusted Services’ brand in the fifth consecutive year. It’s been India’s No.1 most trusted financial services brand since 2016.
The ranking is purely based on the primary research administered across 8000 unique brands from 323 categories. The survey was conducted across various cities so as to render the customer insights in conjunction with the use of brand name analytics.
Mr. Alexander George Muthoot, Deputy director of Muthoot Finance said that the organization is built on the 7 founding principles of ethics, values, reliability, dependability, trustworthiness, integrity, and goodwill, and adheres to absolutely the best standards of corporate governance. They are very delighted to win the foremost trusted financial services brand title which resonates closely with the company’s core principles as we are the guardians of trust who empower society to unlock the potential of their emotional currency.
N. Chandramouli, CEO of TRA Research commented about the ranking that when a brand focuses on building trust with intensity, it not only results in building brand trust but also in forging long-term customer relationships. By becoming the foremost Trusted Brand within the category of monetary Services, Muthoot Finance has demonstrated its high consumer-centric focus.
The Muthoot Group was founded in 1887 by Late Shri Ninan Mathai Muthoot, which has a family legacy of more than 800 years, as a modest trading business within the remote village of Kozhencherry in Kerala. The village was geographically handicapped and barren of all prerequisites for starting and expanding a business like – mobility, land, resources, industry and favorable market conditions, etc. Despite these challenging situations, The Muthoot Group continued to grow and expand as a result of the sheer will, diligence, honesty, and trustworthiness exhibited by its founders.
They provide personal and business loans secured by gold jewelry, or gold loans to individuals who possess gold but are unable to access formal credit within an inexpensive time-frame, or to those people whose credit won’t be available within the smallest amount to satisfy the unanticipated or other short-term liquidity requirements. They have served quite 70 crore satisfied customers (including repeated customers) at the right times.