A new chapter begins as Ambuj Chandna, a long-time veteran of Kotak Mahindra Bank, takes the helm at DBS Bank India as Managing Director and Head of the Consumer Banking Group. After dedicating over 16 years to Kotak, where he rose through the ranks and recently served as President and Head of Consumer Bank Products, Chandna makes a bold move to the Indian arm of Singapore’s largest bank.
Chandna’s transition is a part of the evolving landscape at DBS Bank India. He succeeds Prashant Joshi, who had joined the bank in August 2020 amidst the acquisition of the troubled Lakshmi Vilas Bank. Joshi, with his impressive background in retail lending across Deutsche Bank and Standard Chartered, has yet to announce his next step.
This shift comes on the heels of another significant change at DBS. Rajat Verma, who was leading the institutional banking group, has been appointed as the CEO of DBS Bank India, a role he formally assumes from March 2025. Chandna’s arrival at DBS India marks one of the first notable leadership changes under Verma’s leadership. These transformations reflect the bank’s ongoing efforts to reposition itself in India’s fiercely competitive banking market.
While DBS has not officially confirmed Chandna’s new role, he has already shared the exciting update on his LinkedIn profile. This change in leadership follows Kotak Mahindra Bank’s restructuring of its retail banking operations in July 2024. Following this overhaul, Chandna’s responsibilities shifted from overseeing Consumer Assets to heading Consumer Bank Products—a more specific segment of the business. His journey with Kotak began in 2015 when the bank acquired ING Vysya Bank, laying the foundation for a stellar career in banking.
Chandna’s rich experience in the retail lending sector, honed over years at some of the world’s leading financial institutions, will undoubtedly help DBS Bank India navigate its next phase of growth. The fresh leadership team at DBS is poised to bring a new vision to the table, driving the bank toward greater success in India’s dynamic financial ecosystem.
As we look forward to these leadership changes, one thing is clear: the future of banking is unfolding before our eyes. Chandna’s new role signals a promising new era for DBS Bank India, blending decades of expertise with fresh perspectives.
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