DBS Bank India has announced that Rajat Verma will take over as Chief Executive Officer (CEO) on March 1, 2025, following the approval of the Reserve Bank of India (RBI). Verma, who currently serves as the Head of the Institutional Banking Group (IBG) at DBS Bank India, will succeed Surojit Shome, the outgoing CEO, who retires on February 28, 2025. In his new role, Verma will join DBS’ prestigious Group Management Committee.
Leadership Transition
Surojit Shome has been instrumental in expanding DBS Bank India’s footprint since assuming the role of CEO in 2015. Key milestones under his leadership include:
- Launch of digibank in 2016.
- Subsidiarisation of DBS India in 2019.
- Merger with Lakshmi Vilas Bank in 2020.
DBS CEO Piyush Gupta praised Shome’s contributions:
“Under Surojit’s leadership, DBS India has grown into a robust franchise offering comprehensive services across institutional banking, wealth management, and retail banking. We deeply appreciate his strong vision and dedication over the last decade.”
Rajat Verma’s Impressive Track Record
With an illustrious 27-year career in banking, Verma has expertise spanning:
- Consumer and corporate banking.
- Transactional banking.
- Financial institutions and sustainable finance.
- Micro, SME, and branch banking.
Since joining DBS as Head of IBG in June 2023, Verma has driven growth across all client segments. Prior to DBS, he served as Managing Director and Country Head of Commercial Banking at HSBC India, where he played a pivotal role in advancing the bank’s business strategies.
DBS CEO Piyush Gupta expressed confidence in Verma’s leadership:
“A banking veteran, Rajat has solidified our India IBG business over the past 18 months. With a strong platform in place, I am confident that Rajat will lead DBS India to new heights and further our participation in India’s growth story.”
DBS Bank India: A Growing Powerhouse
India has been a crucial market for DBS Bank over the past three decades. Under Shome’s leadership, the bank transformed into a full-service platform, catering to institutional banking, wealth management, and retail clients. With Verma at the helm, DBS Bank India is poised to leverage its strong foundation and contribute further to the country’s economic development.
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