SMBC on Friday said it had signed a definitive agreement to take a 20 per cent stake in Mumbai-based Yes Bank, a deal that marks the largest cross-border merger
Moody's says SMBC's investment in Yes Bank adds a strategic partner with strong funding and governance credentials, though affiliate support not yet factored in
Technically, the stock seems on course to test ₹25.50 levels, above which a dash to ₹27.30 levels cannot be ruled out, shows the medium-term YES Bank chart.
Yes Bank rose 2.35 per cent after SMBC's ₹13,482-crore stake deal but underperformed the Nifty Bank and Nifty 50 indices, which posted stronger gains
The lender's stock rose as much as 8.39 per cent during the day to ₹21.7 per share
SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC First Bank, Federal Bank, and Bandhan Bank have announced a combined sale of their 20% stake in Yes Bank to Japan's SMBC
At 6:50 AM, GIFT Nifty futures were trading 496 points higher at 24,561.5, indicating a gap-up start for the bourses.
Prashant Kumar tells why SMBC has become a strategic investor and the advantages arising from this for Yes Bank
In India's largest cross-border banking deal, SBI and private lenders sell 20% stake in Yes Bank to SMBC for ₹13,482 crore, valuing the bank at $7.9 billion
SMBC to gain 20 per cent stake in Yes Bank, becoming its largest shareholder with likely board representation; SBI's stake to reduce post regulatory approval
At 11:27 am; Nifty PSU Bank, the sole gainer among sectoral indices, was up 1.32 per cent, as compared to 0.91 per cent decline in Nifty 50.
According to reports, SMBC is in talks with the private lender to acquire a little over 20 per cent stake in the bank, which will trigger an open offer to acquire a majority stake in the bank
The upward movement in the stock came after reports suggested that Japanese banking giant Sumitomo Mitsui Banking Corp (SMBC) was in advanced talks to acquire a significant stake in the private sector
Technical chart indicates that the bias at the YES Bank counter is likely to remain tepid as long as the stock trades below this particular resistance zone; here are the key levels to watch out for.
Yes Bank stake deal: Japanese lender SMBC may acquire 51% in YES Bank as RBI signals comfort, potentially triggering the largest private sector bank acquisition in India
Prashant Kumar discusses the Q4FY25 results and future strategy of the bank
Lenders updating schemes after Reserve Bank of India cut repo rate to 6% earlier this month
Yes Bank's profitability remains lower vis-a-vis private peers
Senior citizens will earn up to 8.25%, general customers up to 7.75% on 12-24 month deposits.
Net interest margin (NIM) for Q4FY25 stood at 2.5 per cent compared to 2.4 per cent in Q4FY24