Yes Bank

Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India (RBI) to acquire a 24.99% stake in Yes Bank, marking a significant milestone in the private banking sector. Alongside the equity infusion, SMBC will secure two seats on Yes Bank’s board, enhancing its strategic influence over the lender’s governance. This development reflects growing international investor confidence in India’s banking sector and signals potential synergies in corporate lending, technology integration, and risk management.

Yes Bank shares jumped sharply on Monday after a game-changing announcement: State Bank of India (SBI) and seven other Indian lenders are offloading a collective 20% stake in the bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for Rs 13,483 crore. The deal positions SMBC as the largest single shareholder in Yes Bank, marking the biggest foreign investment in India’s banking sector to date.