DBS Bank India Welcomes New CEO to Drive Growth and Innovation

Singapore-based DBS has announced the appointment of Rajat Verma as the new chief executive for its India operations, with the promotion awaiting approval from the Reserve Bank of India. Verma is set to take over on 1 March 2025, succeeding Surojit Shome, who will retire on 28 February 2025 after a decade at the helm.

Verma, who will also join the group’s management committee, brings nearly three decades of experience in diverse banking domains, including consumer and corporate banking, sustainable finance, micro and SME banking, and branch operations. Currently leading the institutional banking group at DBS Bank India—a role he has held since joining the bank in June 2023—Verma previously served as managing director and country head of commercial banking at HSBC India.

Shome’s leadership at DBS Bank India was marked by significant milestones, such as the launch of India’s first mobile-only bank in 2016, the conversion of DBS into a local subsidiary in 2019, and the successful merger with Lakshmi Vilas Bank in 2020. His efforts helped transform DBS Bank India into a full-scale banking platform with a presence across more than 350 locations in 19 states, serving institutional, wealth, and retail segments.

The bank emphasized its ongoing commitment to India as a core market, highlighting the appointment as a step toward further strengthening its operations in the country. DBS expects to capitalize on its strong foundation to accelerate growth and innovation under Verma’s leadership, solidifying its position as a leading player in India’s financial sector.

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