Mumbai, Maharashtra, India, December 2024 – The Reserve Bank of India (RBI) has approved the appointment of Rajat Verma as the new Chief Executive Officer (CEO) of DBS Bank India. Succeeding Surojit Shome, who will retire on February 28, 2025, Mr. Verma brings a distinguished 27-year career in banking, spanning consumer and corporate banking, transactional banking, sustainable finance, SME banking, and branch operations.
In his most recent role as MD and Country Head of Institutional Banking at DBS Bank, Mr. Verma significantly expanded the bank’s business across all client segments since joining in June 2023. His leadership and strategic insights have positioned him as a transformative leader, ready to propel DBS Bank India towards further growth and innovation.
Before joining DBS Bank, Mr. Verma spent over 26 years with HSBC, holding several senior roles. He served as the MD and Country Head of Commercial Banking for India, where he led corporate and SME banking, transactional banking, and general management functions. Additionally, he was the Asia Pacific Lead for Sustainable Finance in Commercial Banking, driving key initiatives in sustainability and decarbonization across the region.
Earlier in his career at HSBC, Mr. Verma held leadership positions including MD and Head of Corporate Banking India, Director of Global Banking, and Head of Cash Management for North India, showcasing his depth of experience in both retail and corporate banking operations. His tenure with HSBC also included managerial roles in branch banking and cash management, highlighting his versatile expertise.
About DBS Bank
DBS Bank is one of Asia’s leading financial institutions, with operations in 19 markets and headquarters in Singapore. Recognized globally for its leadership in digital innovation and banking excellence, DBS has been awarded titles such as “World’s Best Bank” by Global Finance and Euromoney, and “Global Bank of the Year” by The Banker.
DBS Bank serves a diverse range of customers, offering services in consumer, SME, and corporate banking. Committed to sustainable and impactful practices, the bank supports social enterprises and equips communities with future-ready skills through the DBS Foundation. With its deep understanding of Asia’s dynamic markets, DBS continues to set the benchmark for excellence in financial services.
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