HDFC Bank has appointed Sumant Rampal to head the mortgage business of the lender with effect from Thursday. Rampal replaces Arvind Kapil, who will be joining the non-banking finance company Poonawalla Fincorp as MD & CEO.

“We wish to inform you that based on the recommendation of the Nomination & Remuneration Committee, the Board of Directors of the Bank, at its meeting held today, i.e., March 28, 2024, has approved the appointment of Mr. Sumant Rampal as Group Head – Mortgage Business with effect from March 28, 2024, in place of Mr. Arvind Kapil,” the largest private sector bank informed the exchanges.

Rampal has been with HDFC Bank for over 24 years, and during his tenure, he has worked in various business domains such as Corporate Banking, Emerging Corporate Group, and Business Banking vertical. Prior to the new role, Rampal was the Group Head – Business Banking Working Capital, Rural Banking Group, and Sustainability Livelihood Initiative.

“He contributed significantly in his role, scaling up the business and delivering on various digital initiatives,” HDFC Bank said, adding Rampal completed his post-graduation from the Symbiosis Institute of International Business in 1997.

First Published: Mar 28 2024 | 10:51 PM IST