DBS Bank India named Rajat Verma as its Chief Executive Officer effective 1 March 2025, following formal approval from the Reserve Bank of India. Verma succeeds Surojit Shome, who stepped down from the role on 28 February 2025.
DBS announced the appointment on 30 December 2024. Verma also joined DBS's Group Management Committee.
FROM INSTITUTIONAL BANKING HEAD TO CHIEF EXECUTIVE
Prior to assuming the chief executive role, Verma served as Head of the Institutional Banking Group at DBS India. He has nearly three decades of banking experience, spanning consumer and corporate banking, sustainable finance and SME banking, including as head of commercial banking at HSBC India before he joined DBS in mid-2023.
DBS Group CEO Piyush Gupta said Verma had "solidified our India IBG business" since joining 18 months earlier.
SHOME'S TENURE
Under Shome's leadership, DBS India integrated Lakshmi Vilas Bank following the RBI's directive to combine the institutions in late 2020.