
DBS Bank India has announced that Rajat Verma will succeed Surojit Shome as CEO, effective March 1, 2025. Verma’s appointment has been approved by the Reserve Bank of India.
Currently serving as the Head of the Institutional Banking Group (IBG), Verma brings over 27 years of experience in areas like corporate banking, sustainable finance, and SME banking. Under his leadership, DBS India has seen significant growth, especially in strengthening corporate relationships and expanding its customer base.
Surojit Shome, who has been at the helm of DBS India since 2015, will retire on February 28, 2025, after a decade of leadership. During his tenure, Shome led key initiatives, including the launch of digibank in 2016, India’s first mobile-only bank. He also oversaw the subsidiarisation of DBS India in 2019 and the successful amalgamation with Lakshmi Vilas Bank in 2020. Under his guidance, DBS India expanded to over 350 locations across 19 states, earning recognition as one of the top three banks on Forbes’ list of the World’s Best Banks in India from 2020 to 2022.
Before joining DBS in June 2023, Verma was the Managing Director and Country Head of Commercial Banking at HSBC India. He will also join DBS’ Group Management Committee, bringing his extensive experience to drive the bank’s continued growth and success in India.