HDFC Bank has appointed Sumant Rampal as the head of its mortgage business with effect from 28th March, 2024. He replaces Arvind Kapil, who will be joining the Non-Banking Finance Company (NBFC) Poonawalla Fincorp as Managing Director and Chief executive Officer (CEO).
The bank, in a filing to the exchange, said that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank, at its meeting held yesterday, has approved the appointment of Sumant Rampal as Group Head – Mortgage Business, with effect from 28th March, 2024, in place of Arvind Kapil.
Rampal has been with HDFC Bank for over 24 years. During his tenure, he has worked in various business domains ranging from 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.
“Rampal contributed significantly in his role, scaling up the business and delivering on various digital initiatives. He has completed his Post Graduation (PG) from the Symbiosis Institute of International Business in 1997,” the bank informed in a statement.
