DBS Bank India has announced the appointment of Rajat Verma as its new Chief Executive Officer, effective March 1, 2025. Verma will succeed outgoing CEO Surojit Shome, who is set to retire on February 28, 2025.
The appointment was confirmed on December 30, following approval from the Reserve Bank of India (RBI). DBS CEO Piyush Gupta expressed confidence in Verma’s leadership, stating, “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.”
“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.” DBS is present in over 350 locations in India and is one of the bank’s core markets among Taiwan, Singapore, Indonesia, Hong Kong and China”, Gupta added.
Currently heading the Institutional Banking Group (IBG) at DBS Bank India, Verma has significantly expanded the bank’s business by strengthening corporate relationships, acquiring new customers, and identifying growth opportunities.
Before joining DBS in June 2023, Verma had a 26-year tenure at HSBC, where he served as the Head of Commercial Banking in India. His extensive experience spans consumer and corporate banking, including transactional banking, financial institutions, sustainable finance, SME banking, and branch banking.
India remains a core market for DBS, alongside Taiwan, Singapore, Indonesia, Hong Kong, and China. Over the last decade, under Surojit Shome’s leadership, DBS India has evolved into a full-service banking platform catering to institutional, wealth, and retail segments. The bank operates across 350 locations in India.
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