New Delhi: Sumant Kathpalia has been chosen by private sector lender IndusInd Bank as the successor to Romesh Sobti, sources said.
Kathpalia is the head of consumer loans at the Hindujas-promoted lender and his name has been forwarded to the Reserve Bank for approval, they said.
Sobti, who has been at the helm for over a decade, will be retiring in March 2020 after hitting 70. The bank had on Thursday disclosed that it has finalised a candidate to succeed Sobti and submitted an application to RBI seeking approval.
The 55-year-old Kathpalia has also been with the bank since 2008 and is credited with building consumer loans portfolio from scratch, as part of a strategy to diversify the loan book adopted by the bank.
Based in New Delhi at present, Kathpalia used to head the consumer loans vertical at ABN Amro Bank, and had joined with Sobti and others who had joined Indusind Bank in 2008. He has also worked in Citi and Bank of America.
