Ambuj Chandna Joins DBS Bank India as MD & Head of Consumer Banking Group

Ambuj Chandna, a veteran banker with over 16 years of experience at Kotak Mahindra Bank, has joined DBS Bank India as Managing Director (MD) and Head of Consumer Banking Group. His move to DBS India comes shortly after Rajat Verma took over as the CEO of DBS Bank India on March 1, 2025. Chandna was previously serving as President and Head of Consumer Bank (Products) at Kotak Mahindra Bank, where he played a key role in the bank’s retail strategy. His transition marks one of the first major leadership changes under Verma’s tenure.

Key Highlights of Ambuj Chandna’s Move to DBS Bank India

Professional Background & Experience

• Chandna spent over 16 years at Kotak Mahindra Bank.
• Served as President and Head of Consumer Bank (Products) at Kotak Mahindra Bank.
• Joined Kotak Mahindra Bank in 2015 after the bank’s acquisition of ING Vysya Bank.
• Previously worked in retail banking and lending roles across Deutsche Bank and Standard Chartered Bank.

New Role at DBS Bank India

• Appointed as Managing Director (MD) & Head of Consumer Banking Group at DBS Bank India.
• Replaces Prashant Joshi, who joined DBS in August 2020 and played a role in the acquisition of Lakshmi Vilas Bank.

Key Responsibilities

• Overseeing retail banking operations in India.
• Driving growth in consumer banking, digital banking, and financial products.
• Strengthening DBS’s retail lending and customer acquisition strategies.

Leadership Changes at DBS Bank India

• Chandna’s appointment follows Rajat Verma’s takeover as CEO of DBS Bank India on March 1, 2025.
• Represents one of the first major leadership shifts under Verma’s tenure.
• DBS Bank India has not made an official announcement yet, but Chandna confirmed his move via LinkedIn.

Restructuring at Kotak Mahindra Bank

• In July 2024, Kotak Mahindra Bank overhauled its retail operations, leading to Chandna’s role change.
• Transitioned from President of Consumer Assets to President & Head of Consumer Bank – Products.
• This shift reduced his responsibilities, covering only a segment of the consumer business.
• Likely influenced his decision to move to DBS Bank India for a broader leadership role.