DBS Bank has announced the appointment of Rajat Verma as the new CEO of DBS Bank India, effective 1 March 2025, subject to approval from the Reserve Bank of India. Verma will succeed Surojit Shome, who will retire on 28 February 2025 after leading the bank’s Indian operations for nearly a decade.
Under Surojit Shome’s leadership, DBS Bank India saw significant milestones, including the launch of digibank, India’s first mobile-only bank in 2016, the subsidiarisation of DBS in India in 2019, and the successful amalgamation of Lakshmi Vilas Bank in 2020. Today, DBS Bank India operates in over 350 locations across 19 states, continuing to be a key player in the Indian banking sector.
Rajat Verma brings 27 years of extensive experience in consumer and corporate banking, including expertise in transactional banking, sustainable finance, and micro and SME banking. Since joining DBS India in June 2023 as Head of Institutional Banking Group (IBG), He has led significant growth across various client segments, deepening corporate relationships and expanding customer acquisition channels.
Previously, Mr. Verma served as Managing Director and Country Head of Commercial Banking at HSBC India, where he was responsible for overseeing strategic growth in the Indian market.
DBS Group CEO, Piyush Gupta, praised Verma’s leadership, stating, “India has been a cornerstone of DBS’s success for over 30 years, and under Surojit’s leadership, DBS India has evolved into a full-service banking platform serving institutional banking, wealth, and retail segments. Rajat’s extensive expertise and vision for IBG growth will help us continue expanding our footprint in India and capitalize on the country’s growth opportunities.”
As DBS Bank India prepares for the leadership transition, the bank remains committed to delivering exceptional banking solutions and continuing its role in shaping India’s financial services landscape.
With Rajat Verma taking the helm, DBS Bank India is poised for continued growth, innovation, and leadership in India’s dynamic banking and financial services market.
