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June 14, 2018 12:27 PM | Business

Non-performing assets for a gold loan firm is a non-issue, says Muthoot Finance

Non-performing assets (NPA) for a gold loan company is a non-issue as we have never lost a rupee because of bad loans, said Muthoot Finance.

Speaking to CNBC-TV18, George Alexander Muthoot, managing director, said the company expect gold loan business to grow at 15% for FY19 as Antique Stock Broking believe that gold financing business is in a sweet spot as growth has returned.

Muthoot said things are looking better for last five months and this quarter also for the gold financing companies as the company see a demand pick up, "Last year our growth on the gold loan business was less than 10% percent," he said.

“We see very little loan losses due to NPAs or such things and profitability should not be a concern, should be positive in the coming year,” he added.
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