New Delhi: Japan-based Sumitomo Mitsui Banking Corporation (SMBC) has acquired a 20% controlling stake in Yes Bank after months of negotiations with SBI and other major shareholders. SBI will divest 13.19% of its holding in Yes Bank while other shareholders- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IDFC First Bank, Federal Bank and Bandhan Bank, will collectively sell their 6.81% stake to SMBC. This values the Mumbai-headquartered bank at Rs. 67,411 crore, with a purchase price of Rs. 21.5 per share.
SBI will continue to hold about 10% of its stake in the bank.
Mr. Prashant Kumar, Managing Director & Chief Executive Officer, YES Bank said,
“We are excited to welcome SMBC, a globally renowned financial partner, as a major shareholder whose investment marks a pivotal step in our next phase of growth. We expect to benefit from their global expertise and high governance standards. This investment is a powerful endorsement of our transformation journey and future potential. Over the past few years, our growth has been shaped by the strong partnership and unwavering support of SBI and they will continue to remain a valued stakeholder.”
SBI’s stock was up 2.71% and Yes Bank rallied 3.15% in early morning trades on May 12.
This is the Japanese financial conglomerate’s second major investment in India after acquiring a controlling stake in NBFC Fullerton India Credit in 2021.
“We extend our gratitude to SBI and all our stakeholders for their continued trust as we look ahead to this exciting new chapter with optimism and purpose”, Yes Bank posted on its official X handle.
We are proud to announce a milestone partnership in YES BANK’s journey, as Sumitomo Mitsui Banking Corporation (SMBC), Japan’s second-largest banking group, enters into a definitive agreement to acquire a 20% stake, becoming the Bank’s largest shareholder. This also marks the… pic.twitter.com/J0QkpPTlzZ
— YES BANK (@YESBANK) May 10, 2025
