Sumant Rampal Assumes Leadership Of HDFC Bank's Mortgage Division

HDFC Bank has announced the appointment of Sumant Rampal as the new head of its mortgage business, effective from 28 March 2024. Rampal takes over this role from Arvind Kapil, who is set to join Poonawalla Fincorp as MD & CEO.

The decision was made following the recommendation of the Nomination & Remuneration Committee, and the approval of the Bank's Board of Directors during its meeting on 28 March 2024. Rampal, who has been with HDFC Bank for more than 24 years, brings a wealth of experience to his new position. Over the years, he has held various roles within the bank, including Corporate Banking, Emerging Corporate Group, and Business Banking.

Before assuming his current role, Rampal served as the Group Head for Business Banking Working Capital, Rural Banking Group, and Sustainability Livelihood Initiative. HDFC Bank commended his significant contributions in scaling up business operations and spearheading various digital initiatives.

Rampal holds a post-graduate degree from the Symbiosis Institute of International Business, completing his education in 1997. His appointment underscores HDFC Bank's commitment to leveraging seasoned talent to drive growth and innovation within the organisation.