365Telugu.com onine news,January 7th,2025: 20DBS Bank has announced the appointment of Rajat Verma as the new Chief Executive Officer (CEO) of DBS Bank India, effective from March 1,25. The appointment follows approval from the Reserve Bank of India.
Verma, who currently heads the Institutional Banking Group (IBG) at DBS India, will succeed Surojit Shome, who is set to retire on February 28, 2025. In his new role, Verma will also join DBS Group’s Management Committee.
Surojit Shome, who took over as CEO in 2015, has played a pivotal role in expanding DBS Bank’s presence in India. His notable contributions include launching digibank, India’s first mobile-only bank, in 2016, the conversion of DBS India into a wholly owned subsidiary in 2019, and overseeing the merger of Lakshmi Vilas Bank in 2020.
Today, DBS Bank India operates across 350+ locations in 19 states and was ranked among the top three on Forbes’ World’s Best Banks in India list between 2020 and 2022.
Rajat Verma brings with him 27 years of banking experience across consumer and corporate segments, including sustainable finance, transactional banking, and SME banking. Since joining DBS in June 2023 as Head of the IBG, Verma has significantly expanded the business across various client segments by strengthening corporate relationships and driving customer acquisition.
Under his leadership, DBS Bank India was recognized as the Best Bank for Sustainable Finance – India by Global Finance in 2024. Prior to DBS, Verma served as Managing Director and Country Head of Commercial Banking at HSBC India.
DBS Group CEO Piyush Gupta acknowledged Surojit Shome’s decade-long contribution, saying, “India has been a key market for DBS for over 30 years, and under Surojit’s leadership, DBS India has evolved into a robust full-service banking platform. We deeply appreciate his vision and dedication in making DBS India a strong franchise.
Rajat has already made significant strides since joining us 18 months ago, particularly in scaling our institutional banking business. With his leadership, DBS is well-positioned to capitalize on India’s growth opportunities. I am confident that Rajat will take our India business to new heights.