In his new role, Alok will focus on the company’s growth strategy ahead and cater to the huge unmet demand for retail housing loans.
Muthoot Homefin (India), a wholly owned housing finance subsidiary of Muthoot Finance, has announced the appointment of Alok Aggarwal as its chief executive officer (CEO). With this move, Muthoot Homefin strengthens its leadership to embark upon the company’s plans to become the most trusted institution that enriches the lives of the lower middle income (LMI) families by offering formal housing finance to them and achieving financial inclusion.
With 20 years of experience under his belt, Alok Aggarwal has served as the MD & CEO at National Trust Housing Finance. He has delivered exceptional results and improved the performance of the companies across segments like housing finance, mortgage, auto loans, personal loans, and retail investment products. Prior to National Trust Housing Finance, Alok has also held leadership roles in organisations like Equitas Bank, Fullerton India HFC, Magma Housing Finance, Lodha Group and Tata Capital. Alok has completed his MBA from ICFAI Business School, Hyderabad and Bachelors of Commerce (Honors) from University of Delhi.
On the appointment of Alok Aggarwal as the new CEO, George Jacob Muthoot, chairman, Muthoot Finance said, “There exists a significant gap between the housing demand and availability of housing finance to the underbanked/marginalised section. Muthoot Homefin remains focused on bridging this divide and fulfil the housing dreams of people at the bottom of the pyramid. With Alok joining the leadership team, we aim to capitalise on his expertise to spearhead the growth in housing finance business and also contribute significantly towards the Government’s mission of ‘Housing for All’.”
George Alexander Muthoot, managing director, Muthoot Finance said, “We remain committed towards growing and supporting the housing finance business of Muthoot Homefin. It is a great pleasure to onboard Alok as the CEO and I am confident that his vast experience in leading the housing finance segment in previous organisations will help us in becoming a leading player in this space. I am happy that he joins our team at a really good time as we are focused on expanding our services to new geographies and customers.”
Commenting on the new role, Alok Aggarwal, chief executive officer, Muthoot Homefin said, “I am thankful and excited to become a part of the Muthoot Group and lead Muthoot Homefin. Apart from a strong offline presence, we will also be actively tapping tech-savvy customers with our strong digital presence.”