SMBC to have two nominees on Yes Bank board: MD & CEO Prashant Kumar

Prashant Kumar tells why SMBC has become a strategic investor and the advantages arising from this for Yes Bank

Japanese financial conglomerate Sumitomo Mitsui Banking Corporation (SMBC) has acquired a 20 per cent stake in Yes Bank from State Bank of India (SBI) and seven private banks for ₹13,482 crore, the largest cross-border banking-sector deal in India, to become its largest shareholder. Prashant Kumar, managing director and chief executive officer, tells Manojit Saha & Subrata Panda on the phone why SMBC has become a strategic investor and the advantages arising from this for Yes Bank. Edited excerpts:

 

What are the advantages of having SMBC on board? 

We were looking for a strategic investor. And this (SMBC) is a strategic