Nitin Chugh joins SBI as DMD & Head – Digital Banking

By Leandra Monteiro

Nitin Chugh has been appointed as the Deputy Managing Director (DMD) & Head of Digital Banking, of the country’s largest lender, State Bank of India (SBI). In this role, Nitin would be responsible for driving the growth of customer acquisition through digital channels, along with defining and implementing digital strategies.

Nitin Chugh is a seasoned banker and a digital banking expert with experience of nearly 3 decades. Prior to joining SBI, he was serving Ujjivan Small Finance Bank as MD & CEO. He also had a long and impactful stint of 18 years at HDFC Bank where he managed several leadership roles in retail banking.

Apart from a Postgraduate degree in Management, Nitin holds a B.Tech degree in Electrical and Computer Science from NIT, Kurukshetra.

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 lakh Indian families. The home loan portfolio of the bank has crossed the milestone of INR 5 lakh crore. As of December 31, 2021, the bank has a deposit base of over INR 38 lakh crore with a CASA ratio of 45.74% and advances of more than INR 28 lakh crore. SBI commands a market share of close to 36% and a little over 28% in the home loans and auto loans segment respectively.