DBS Bank India has announced that Rajat Verma will assume the role of CEO starting 1 March 2025, following approval from the Reserve Bank of India.
Verma, currently serving as Head of Institutional Banking Group (IBG) at DBS India, will succeed Surojit Shome, who is set to retire on 28 February 2025.
In his new role, Verma will join DBS’ Group Management Committee.
Verma, a banking veteran with 27 years of experience, joined DBS in June 2023.
As Head of IBG, he has driven growth across all client segments by deepening corporate relationships, accelerating customer acquisition, and identifying opportunities in emerging growth areas.
Before joining DBS, Verma held leadership roles at HSBC India, including Managing Director and Country Head of Commercial Banking.
Surojit Shome, who has been CEO since 2015, has overseen significant milestones, including the launch of digibank in 2016, the subsidiarisation of DBS India in 2019, and the integration of Lakshmi Vilas Bank in 2020.
Under his leadership, DBS India has evolved into a full-service platform spanning institutional banking, wealth management, and retail banking.
The bank now operates across over 350 locations in 19 states.
Piyush Gupta, CEO of DBS, said,
“A banking veteran, Rajat has solidified our India IBG business since joining us 18 months ago. With our robust platform, DBS is well-positioned to continue participating in the India growth story over the coming years.
I am confident that Rajat will build on what has been accomplished and take the business to the next level.”
Featured image credit: Edited from Freepik
