DBS Bank India has announced the appointment of Rajat Verma as its new Chief Executive Officer (CEO), effective March 1, 2025, following approval from the Reserve Bank of India. Verma, currently serving as the Head of the Institutional Banking Group (IBG) at DBS Bank India, will succeed Surojit Shome, who retires on February 28, 2025, after a decade of transformative leadership.
Rajat Verma’s Background and Vision
A seasoned banker with over 27 years of experience, Verma has expertise spanning consumer and corporate banking, sustainable finance, SME banking, and branch banking. Since joining DBS in June 2023, he has driven significant growth in institutional banking by strengthening corporate relationships and expanding customer acquisition. Prior to DBS, he held leadership roles at HSBC India, including Managing Director and Country Head of Commercial Banking.
In his new role, Verma will join the DBS Group Management Committee, with a focus on advancing DBS India’s growth strategy and leveraging its robust platform to capitalize on opportunities in the Indian financial sector.
Surojit Shome’s Legacy
Shome’s tenure as CEO since 2015 has been marked by key milestones such as:
- Launching digibank, India’s first mobile-only bank, in 2016.
- Leading the subsidiarisation of DBS India in 2019.
- Overseeing the amalgamation with Lakshmi Vilas Bank in 2020.
Under his leadership, DBS India expanded to over 350 locations across 19 states and earned recognition among Forbes’ top three World’s Best Banks in India from 2020 to 2022.
