Chennai: Kerala based Muthoot Finance on Tuesday said it hoped to double its business transactions to Rs 7,000 crore in value terms by the end of this fiscal.

The company made transactions valued at about Rs 3,500 crore in 2011-12, Muthoot Group Executive Director George M Muthoot said.

"We are definitely looking at doubling our transactions to about 40 lakh this financial year. That will be about Rs 7,000 crore (in value terms). Last year we did about 20 lakh transactions across all our branches (for about Rs 3,500 crore)" he told media here.

Muthoot Finance offers gold loans to customers and has about 4,000 branches across the country.

Referring to the company's assets under management, he said it was hoping to reach about Rs 24,000 crore soon.

"We are now bouncing back. On the long run we are looking at about 15 percent growth year-on-year", he said.

George was here to announce a scheme which offers assured gift to money transfer for customers during the festive season.

The company has tie-up with several international agents including Western Union, Xpress Money, MoneyGram, Royal money transfer, Ezremit, Instant Cash and Transfast.

"Currently we make about two million money transfers, this year we aim to double the figures", he said.


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