DBS Bank India announces the appointment of Rajat Verma as Managing Director and Head of Institutional Banking for India. The current head of institutional banking for India, Niraj Mittal, has recently moved to a new role as country head of DBS Bank in Australia as part of the bank’s continued talent and leadership development programme.
Mittal will focus on growing the DBS franchise there, including improving linkages with Southeast Asia and South Asia. Mittal was instrumental in deepening the large corporate franchise across major conglomerates in India as well as refocusing and scaling the SME business.
Verma was, until recently, with HSBC Bank, where he was managing director and Country Head of commercial banking, India. Verma brings a wealth of knowledge and deep industry expertise to DBS. With his 26 years of banking experience, Verma has demonstrated an outstanding record of steering business growth and delivering results. He holds an MBA from the Indian Institute of Management, Lucknow, and a Bachelor of Electrical Engineering from the Delhi College of Engineering.
In his new role, Verma will lead the growth of the institutional banking franchise for DBS Bank in India, given the significantly expanded footprint of the bank in India, with presence across 350+ locations and 530+ branches. With this appointment, DBS Bank India further strengthens its leadership team and underlines its commitment to excellence in its institutional banking business.
Surojit Shome, managing director and CEO, DBS Bank India, said, “DBS Bank India is on a strong growth trajectory, and we are very pleased to have Verma on board to accelerate the momentum. He is a seasoned banker with a proven track record of delivering value to institutional clients across diverse sectors and markets. His appointment reinforces our commitment to growing our business in India. I am confident that under Verma’s leadership, we will further bolster our corporate banking franchise, leverage our strengths in digitalisation, and deliver better value for our customers.”
Verma said, “This marks a career milestone for me as I join an organisation with a unique growth story in India. DBS has been recognised as one of the best banks in the world and is making great strides in the industry through its strong digital platform, established Asian network, and deep understanding of the Indian market. I look forward to building on this solid foundation and working with the talented team at DBS to leverage these strengths as we progress towards the next stage of growth in India.”
DBS Bank India Limited, a 100 percent wholly owned subsidiary of DBS Bank Limited, Singapore, is one of the leading banks in the country, offering a wide range of products and services to its clients across large, medium, and small enterprises, along with a full suite of products for individual consumers. The Bank is committed to building long-term sustainable partnerships, co-creating solutions that enable businesses to realise their ambitions, and connecting clients through an ecosystem approach. The Bank has also seen steady growth with its large corporate and MNC clients.