The proceeds of the transaction would boost the bottomline of SBI in the second quarter ending September at a time when interest income and margins are under pressure
Earlier this year, SMBC had agreed to acquire a 20 per cent stake in Yes Bank, making it one of the largest foreign investments in the Indian banking sector
SMBC's 20% stake purchase marks Japan's biggest bank's entry into India and the largest cross-border deal in the country's financial sector
YES Bank shares rose 1.6 per cent on Thursday, after RBI gave its nod for the nomination of two directors by SMBC and SBI on YES Bank's board
Analysts believe, for YES Bank, the coming quarters will be pivotal. The incoming leadership, coupled with SMBC's strategic push, may just offer the bank a second chance to engineer a turnaround
Yes Bank's share price was quoting 3.3 per cent higher at ₹20.2 per share against the previous close of ₹19.55 on the NSE
SMBC in May had inked a deal to take a 20% stake in Yes Bank for $1.6 billion, making it the largest cross-border merger and acquisition deal in India's financial sector
Private sector lender Yes Bank on Tuesday said the Reserve Bank has approved the reappointment of former RBI Deputy Governor R Gandhi as non-executive chairman of the bank. The Reserve Bank of India (RBI), through its letter dated September 1, 2025, has approved the re-appointment of Rama Subramaniam Gandhi as part-time Chairman of the bank for a further period from September 20, 2025, to May 13, 2027, at a remuneration approved by the RBI, Yes Bank said in a regulatory filing. He served as the Deputy Governor of the Reserve Bank of India for three years from 2014 to 2017. He had been a seasoned and accomplished central banker for 37 years. Gandhi had a three-year secondment to the Securities and Exchange Board of India (SEBI), the capital market regulator. He also held the charge of Director of the Institute for Development and Research in Banking Technology, IDRBT, Hyderabad.
YES Bank shares snapped a two-day losing streak and currently trade at 3.5 times the average 30-day trading volume, according to Bloomberg
Sumitomo Mitsui's fresh ₹16,000 crore plan follows its earlier ₹13,500 crore deal for 20% in Yes Bank, with RBI nod for up to 24.99% ownership
YES Bank shares rose 5.4 per cent after RBI approved Japanese bank Sumitomo Mitsui Banking Corporation's acquisition of 24.99 per cent stake; experts see governance boost, operational synergies