HDFC may tap Arvind Kapil for mammoth mortgage business post merger

HDFC Bank has shortlisted veteran Arvind Kapil, its current retail assets head, to spearhead the home loans business after its mega-merger with India’s biggest mortgage financier Housing Development Finance Corp. Kapil, who has worked at the country’s most valuable bank for almost a quarter of a century, recently met executives at the mortgage lender to discuss plans for the loan book post-merger, according to people familiar with the matter.

If he gets the role, Kapil will lead a mammoth mortgage business, that currently includes gross individual loans of Rs 5 trillion at HDFC and over Rs1 trillion at HDFC Bank, according to the firms’ latest statements.