L&T Finance plans to open 500 new gold loan branches during the current financial year, expanding its network from 330 branches as it strengthens its presence in the fast-growing gold loan market.
The expansion is part of the company’s broader retail lending strategy. L&T Finance aims to grow its gold loan portfolio significantly, with the segment expected to account for more than 10% of its total loan book over the next five years, compared with around 3% currently.
The company is targeting rapid growth in the gold loan business as organised gold-backed lending expands across India. Its wider branch expansion is expected to strengthen access to secured credit, particularly across emerging markets.
