Yes Bank Gains RBI Nod for SMBC Stake
Yes Bank announced Saturday that the Reserve Bank of India (RBI) has given the green light for Sumitomo mitsui Banking Corporation (SMBC) to acquire up to 24.99% of its shares and voting rights. This is a notable growth for the Indian private lender.
The RBI clarified a key point: SMBC will not be considered a promoter of Yes Bank following the acquisition. This distinction is vital for regulatory purposes and governance.
Yes Bank revealed this approval in a regulatory filing, stating itS valid for one year, starting August 22, 2025. SMBC initially plans to increase its holding to 20% through a secondary stake purchase.
Specifically, this 20% target includes acquiring a 13.19% stake from State Bank of India (SBI). this move strengthens the partnership between the two financial institutions and provides Yes Bank with a considerable investment.
The acquisition is expected to bring several benefits to Yes Bank, including access to SMBC’s global network and expertise. It’s a positive step for the bank as it continues its growth trajectory. Investors will be watching closely to see how this partnership unfolds.
Sources:
- Economic Times – Yes Bank
- Economic Times – Sumitomo Mitsui Banking Corporation
- Economic Times – State Bank of India