Sumant Rampal appointed head of HDFC Bank’s mortgage business

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

“We would like to inform you that, based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank at its meeting today i.e. on March 28, 2024, has approved the appointment of Mr. Sumant Rampal as Group approved. Head – Mortgage Business with effect from March 28, 2024, in place of Mr. Arvind Kapil,” the largest private sector bank informed the stock 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 group head – Business Banking Working Capital, Rural Banking Group and Sustainability Livelihood Initiative.

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

First print: March 28, 2024 | 10:51 PM IST