With the acquisition, the importance of SMBC in Yes Bank has risen from 20% to 24.22% | Photocredit: Reuters/Aninnie Arif
Yes Bank On Tuesday Sumitomo Mitsui Banking Corporation (SMBC) of Japan has an extra interest of 4.22 percent in Mumbai acquired bank.
With the acquisition, the importance of SMBC in Yes Bank has risen from 20 percent to 24.22 percent.
SMBC acquired 132.39 crore shares via off-market sale on September 22, yes bank said in a legal submission.
With the acquisition, the total importance of the Japanese entity in the bank rose to 759.51 Crore shares, it said.
With this transaction, SMBC has become the largest shareholder of Yes Bank, while SBI continues to keep a significant interest of more than 10 percent.
The bank of the private sector stated that its intention to use the global strengths of SMBC, in particular when facilitating trade and investment flows between Japan and India, to accelerate the growth of its company sofa, treasury services and cross-border solutions.
Yes Bank also said that four domestic creditworthiness agencies- Crisil, ICRA, India Ratings and Care- have now assigned it, the highest level since March 2020. These upgrades reflect the reinforced capital position of the bank, robust administration and improved business performance.
Last week the largest lender in the country, SBI, announced the completion of the repulsion of approximately 13.18 percent interest in YES Bank to Sumitomo Mitsui Banking Corporation (SMBC) of Japan for £ 8,888.97 Crore.
SMBC has reached an agreement with CA Basque Investments, a branch of the global investment firm Carlyle Group, to increase its equity in YES Bank by an additional 4.22 percent.
SBI and the seven investors had invested lenders in the bank in March 2020 as part of the Yes Bank Reconstruction Scheme. The state -operated SBI, who had a 24 percent interest in Yes Bank, is now lagging behind with just over 10 percent interest after the dilution.
In March 2020, weeks before the start of the COVID crisis, the RBI and the government organized a rescue law in which banks were led by SBI who took a 79 percent interest in Yes Bank and helps to float.
Published on September 23, 2025
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