Rajat Verma to take over as DBS Bank India CEO

Singapore-based DBS Group on Tuesday said Rajat Verma will take over as chief executive officer (CEO) at DBS Bank India from 1 March 2025.

Reuters had first reported Verma’s then potential transition in November.

Shome will retire on 28 February 2025, the lender had then informed the exchanges, adding that it was awaiting approval from the Reserve Bank of India (RBI) on the successor.

The lender on Monday said RBI had approved its nominee.

Verma is currently head of institutional banking group (IBG) at DBS Bank India.

An industry veteran with 27 years of experience, Verma had joined DBS Bank India in that position in June 2023.

“Before joining DBS, he was managing director and country head of commercial banking at HSBC India,” a DBS statement said.

“A banking veteran, Rajat has solidified our India IBG business since joining us 18 months ago. With our robust platform, DBS is well-positioned to continue participating in the India growth story over the coming years. I am confident that Rajat will build on what has been accomplished and take the business to the next level,” DBS group chief executive officer Piyush Gupta said.