DBS Bank India appoints Rajat Verma as MD, Head of Institutional Banking

Rajat Verma will be taking over from Niraj Mittal, who will take charge as the country head of DBS Bank in Australia

DBS Bank India has appointed Rajat Verma as managing director and head of institutional banking for India.

Niraj Mittal, the current head of institutional banking for India, will be taking up a new role as country head of the DBS Bank in Australia. He was instrumental in deepening the large corporate franchise across major conglomerates in India, the press release by the bank said.

Until recently, Verma was the managing director and country head of commercial banking, HSBC Bank.

With 26 years of banking experience, Rajat has demonstrated an outstanding record of steering business growth and delivering results. He holds an MBA from the Indian Institute of Management (IIM), Lucknow, and a Bachelor of Electrical Engineering from the Delhi College of Engineering.

In his new role, Rajat will lead the growth of the institutional banking franchise for DBS Bank in India with presence across over 350 locations with over 530 branches.

Surojit Shome, managing director and CEO of DBS Bank India, said, "DBS Bank India is on a strong growth trajectory, and we are very pleased to have Rajat 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.”

Verma said that this appointment marks a career milestone for him. "DBS has been recognised as one of the best banks in the world and is making great strides in the industry. I look forward to building on this solid foundation,” he said.