SMBC gets approval from RBI to acquire up to 25% stakes in Yes Bank

Will not be categorised as promoter, RBI clarified

Don't want to miss the best from Business Standard?

Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India to acquire up to 24.99 per cent stake in Yes Bank, the latter said in an exchange filing.

 

In May, SMBC proposed to acquire 13.19 per cent stake from State Bank of India and 6.81 per cent from seven other banks, totalling 20 per cent, for Rs 13,483 crore.

 

“In this regard, we are pleased to inform that SMBC has received the approval of the Reserve Bank of India to acquire up to 24.99 per cent of the paid-up share capital/voting rights of the bank,” Yes Bank informed the exchanges.

 

The approval is valid for one year. RBI further clarified that pursuant to the said acquisition, SMBC would not be treated as a promoter of the bank, Yes Bank said.

 

As of June 2025, domestic banks collectively held 33.7 per cent of Yes Bank. SBI remained the largest single shareholder with a 23.96 per cent stake, while foreign investors CA Basque Investments and Verventa Holdings held 4.22 per cent and 9.2 per cent, respectively.

 

On Friday, shares of Yes Bank closed 0.8 per cent lower at Rs 19.28 apiece. In Q1 FY26, Yes Bank reported a 59 per cent year-on-year increase in its net profit to Rs 801 crore. Net interest income (NII), or core income earned by the lender, increased 5.8 per cent from last year to Rs 2,371 crore from Rs 2,240 crore.