Muthoot HomeFin (India) Ltd appointed Alok Aggarwal as the chief executive officer of the company, it said in a press release today. Muthoot HomeFin Ltd is Muthoot Finance's wholly owned subsidiary.
Aggarwal will pay close attention to the company's future growth plans and meet the demand for retail home loans. According to the press release, he will also concentrate on growing the home finance business in Tier II and Tier III cities.
"From an AUM of Rs 1,420 crores (14.2 bln rupees), we aim to grow our loan book at 10-15% by the end of FY23," Aggarwal said.
"We further plan to improve our branch penetration across the remote locations in the country by opening 50 new branches in FY23. Apart from a strong offline presence, we will also be actively tapping tech-savvy customers with our strong digital presence."
Aggarwal has an experience of over 20 years and has previously worked in National Trust Housing Finance Ltd as the managing director and chief executive officer.
Prior to National Trust Housing Finance, he was also a part of Equitas Bank, Fullerton India Home Finance Co, Magma Housing Finance, Lodha Group and Tata Capital.
