HDFC Bank Considers Arvind Kapil To Lead Home Loans Business Post HDFC Merger

HDFC Bank is reportedly considering Arvind Kapil, the current head of retail assets, to lead its home loans business after the anticipated merger with Housing Development Finance Corp (HDFC). The move aims to leverage Kapil's extensive experience and expertise in the banking industry to effectively manage the mammoth mortgage business that will result from the merger.

According to persons familiar with the case, Kapil, who has worked at the country's most valuable bank for over a quarter-century, recently met with executives at the mortgage lender to discuss preparations for the loan book post-merger.

Kapil will oversee a vast mortgage operation that now includes gross individual loans of Rs 5 trillion at HDFC and over Rs1 trillion at HDFC Bank, according to the firms' most recent disclosures.

The decision has still to be finalised and may still alter, despite the fact that the merger is expected to be completed as soon as July 1. Calls and texts seeking feedback from Kapil went unanswered. An email seeking confirmation of Kapil's new post was not returned by HDFC Bank.

Kapil oversaw the implementation of initiatives such as acquiring a personal loan in 10 seconds, even for people without a bank account, and offering auto loans in 30 minutes at HDFC Bank.

The combination will result in a financial giant capable of riding the surge in home loans and consumer expenditure in the world's most populated country. According to a May 24 video on the bank's YouTube website, an integration committee at the bank is regularly assessing the business, credit, and operations procedures to ensure seamless integration.