DBS Bank has appointed Rajat Verma as the new CEO of DBS Bank India, effective March 1, 2025. Verma, who currently heads the bank’s institutional banking group in India, will succeed the current CEO, Surojit Shome, who is set to retire on February 28, 2025, at the age of 63.  

Verma’s appointment comes after Shome’s successful tenure as CEO, which began in 2015. During Shome’s leadership, DBS India expanded its footprint, notably launching digibank, India’s first mobile-only bank, in 2016. He also led key initiatives like the subsidiarisation of DBS India in 2019 and the merger with Lakshmi Vilas Bank in 2020. Under his leadership, DBS Bank India became one of the top three banks in India, as ranked by Forbes from 2020 to 2022.  

Verma brings 27 years of experience across various banking sectors, including consumer and corporate banking, transactional banking, sustainable finance, and micro and SME banking. He joined DBS Bank India in June 2023 as head of the institutional banking group, where he played a key role in expanding the business, strengthening corporate relationships, and acquiring new clients.  

In 2024, under Verma’s leadership, DBS India was named the Best Bank for Sustainable Finance – India by Global Finance. Prior to joining DBS, he served as the managing director and country head of commercial banking at HSBC India.  

DBS Group CEO Piyush Gupta praised Shome’s leadership in growing DBS India into a full-service platform across multiple banking segments. Gupta expressed confidence that under Verma’s leadership, DBS Bank India will continue to play a key role in India’s growth story.