HDFC Bank has announced the appointment of Sumant Rampal as Group Head of Mortgage Business, in the place of Arvind Kapil. 

According to the bank’s stock exchange disclosure, Sumant Rampal has been with the bank for over 24 years. He has worked in various business domains, such as corporate banking, emerging corporate groups and business banking verticals.

He was a post-graduate from the Symbiosis Institute of International Business in 1997. 

Prior to the new role, he was the Group Head of Business Banking Working Capital, Rural Banking Group and Sustainability Livelihood Initiative. Under his leadership, HDFC Bank was acknowledged as the Best SME Bank by SIDBI in FY 2019-20, by Asiamoney and Euromoney in FY 2021-22, and by Asiamoney in 2022-23.

HDFC Bank stock closed at ₹1,447 on the NSE, up 0.44 per cent on Thursday’s trade.