Manappuram FY23 Total Employees: 63,760
Muthoot FY23 Total Employees: 27,273
That is a stark difference, even if we take out Microfinance Employees (close to 16,000)
I believe one reason for the same is the loan tenure which was 3 months for a very long time which required more employees to deal with customers and at the same time it kept the AUM low because employees were focused on renewing the loans rather than getting new loans. One big reason for IIFL’s growth I believe is that their loan tenure is 24 months which makes sure that the churn of loan book is low. Muthoot’s tenure is 12 months
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