Rajat Verma appointed as CEO of DBS Bank India from March 2025
He will succeed Surojit Shome who will retire in February
DBS Bank has appointed Rajat Verma as chief executive officer of DBS Bank India effective from Mar 1, 2025.
Verma, who is presently head of institutional banking group at DBS Bank India, will succeed current CEO Surojit Shome when the latter retires on Feb 28 next year. He will be 63 then. Verma will join DBS’ Group Management Committee once he takes on his new role.
Since his appointment as CEO of DBS Bank India in 2015, Shome has expanded the bank’s India franchise, such as through the launch of digibank, India’s first mobile-only bank in 2016.
He also led the subsidiarisation of DBS in India in 2019 and the amalgamation of Lakshmi Vilas Bank in 2020.
Today, DBS Bank India is present in more than 350 locations in 19 states. It was ranked among the top three on Forbes’ list of the World’s Best Banks in India from 2020 to 2022.
Verma has 27 years of experience across consumer and corporate banking including transactional banking, financial institutions, sustainable finance, micro and SME banking as well as branch banking.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Since joining DBS Bank India as head of its institutional banking group in June 2023, Verma has “significantly grown the business across all client segments”, the bank said.
This was achieved through deepening existing corporate relationships, accelerating the acquisition of new customers and identifying new opportunities across a broad spectrum of growth areas.
Under Verma’s leadership, DBS was named the Best Bank for Sustainable Finance – India by Global Finance in 2024. Prior to joining the bank, he was managing director and country head of commercial banking at HSBC India.
DBS CEO Piyush Gupta said DBS India has “grown impressively” to become a full-service platform across the institutional banking, wealth and retail segments under Shome’s leadership.
Noting that India has been a key market for DBS over the last 30 years, Gupta added: “With our robust platform, DBS is well-positioned to continue participating in the India growth story over the coming years.”
Shares of DBS closed S$43.85 on Monday (Dec 30), up S$0.30 or 0.7 per cent, before the announcement.
Copyright SPH Media. All rights reserved.
