Rajat Verma to take over as DBS Bank India CEO in March 2025

Rajat Verma will join as chief executive officer (CEO) of DBS Bank India with effect from March 1, 2025, in line with approval accorded by the Reserve Bank of India. Verma, currently head of Institutional Banking Group (IBG) at DBS Bank India, will succeed Surojit Shome as CEO upon the latter’s retirement on February 28, 2025. In this new role, Verma will be part of DBS’ Group Management Committee. 

Verma has a 27-year track record across consumer and corporate banking including transactional banking, financial institutions, sustainable finance, micro and SME banking, as well as branch banking. Since joining DBS as head of IBG in June 2023, he has grown the business across all client segments. Prior to joining DBS, he was managing director and country head of commercial banking at HSBC India. 

Said DBS CEO Piyush Gupta, “India has been a key market for DBS over the last 30 years and under Surojit’s leadership, over the last decade, DBS India has grown impressively to become a full-service platform across the institutional banking, wealth and retail segments. We thank Surojit for his strong vision and unwavering commitment to excellence in growing DBS India into the strong franchise it is today. 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.”