DBS Bank India Limited has announced that Surojit Shome, the Managing Director and Chief Executive Officer (MD & CEO), will be retiring on February 28, 2025.
Surojit has been at the helm of DBS Bank India since April 2015 and has played a pivotal role in the bank’s growth and expansion in the Indian market.
Following his retirement, Rajat Verma, the current head of institutional banking for DBS Bank India, has been nominated to take over as the new CEO.
Surojit Shome’s Tenure and Contributions at DBS Bank India
During his tenure, Surojit has overseen significant milestones for DBS Bank India.
These milestones include the expansion of its branch network to over 530 branches across 19 Indian states.
Under his leadership, the bank has been recognized for its innovative approach to digital banking and sustainable finance.
Surojit’s strategic vision has helped the bank become a trusted partner for large, medium, and small enterprises. The bank also caters well to the individual consumers.
Rajat Verma Appointed MD & CEO DBS Bank India
Rajat Verma, who was appointed as the head of institutional banking for DBS Bank India last year, is set to replace Shome as the new CEO.
He brings over 26 years of experience in the banking sector, having previously served as the head of commercial banking at HSBC in India.
His nomination has been submitted to the Reserve Bank of India (RBI) for approval.
Meanwhile, the bank is awaiting regulatory approval before making an official announcement.
Rajat Verma’s appointment is expected to bring a fresh perspective to DBS Bank India’s leadership.
His extensive experience in institutional banking and commercial banking is anticipated to drive further growth and innovation within the bank.
Rajat’s focus will be on enhancing the bank’s digital capabilities.
He will be expanding its customer base, and continuing to support sustainable finance initiatives.
Summing Up!
The transition from Surojit Shome to Rajat Verma marks a new chapter for the bank.
Surojit’s legacy of innovation and growth will be carried forward by Rajat Verma.
He is poised to lead the bank into the future with a renewed focus on digital transformation.
As the bank awaits regulatory approval for the leadership change, stakeholders are optimistic about the continued success and expansion.
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