Earlier this month, the proposed deal was approved by the Competition Committee of Indi | Photocredit: Francis Mascarenhas
Yes Bank on Wednesday said that the RBI changes in the Bank’s articles of the Association (AOA) have approved with regard to the appointment of the nominee directors on the board.
The changes are related to the nomination of 2 nominated directors by Sumitomo Mitsui Banking Corporation (SMBC) and 1 director by SBI, on the board.
The changes to the board would come into effect after SMBC established interests of SBI and other seven banks in YES Bank acquires in Japan.
The bank received the approval of the Reserve Bank of India (RBI) Vide letter of 9 September 2025, for the proposed changes in the AOA, said yes, said Bank in a legal submission.
Op 9 mei had JA Bank bekendgemaakt dat SMBC van plan was om 20 procent te kopen via een secundaire ringaankoop, waaronder 13,19 procent van State Bank of India (SBI) en 6,81 procent van zeven andere geldschieters – Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, ICICI Bank, ICICI Bank, ICICI Bank, ICICI Bank, ICICI Bank, Icici Bank, Icici Bank, Icici Bank, Icici Bank, Icici Bank, Icici Bank, IDFC, IDFC First Bank, and Kotak Mahindra Bank.
Earlier this month, the proposed deal received approval from the Competition Committee of India (CCI).
Last month the RBI also approved the deal, so SMBC would not be categorized as a promoter of YES Bank. SBI, who currently owns 24 percent in the bank, will cut his interest slightly more than 10 percent after the transaction.
For the fourth quarter ending on March 2025, YES Bank reported with a 63 percent increase in independent net profit at £ 738 Crore, compared to £ 451.9 crore in the period of a year ago. For FY25, the net profit has more than doubled to £ 2,406 crore of £ 1,251 crore a year ago.
Published on September 10, 2025
#RBI #approves #proposed #Bank #Board