Yes Bank Shares Surge 2% as CCI Approves Sumitomo Mitsui’s 24.99% Stake Acquisition

Bank's share price climbed 2% to ₹20 after the Competition Commission of India (CCI) approved Sumitomo Mitsui Banking Corporation’s (SMBC) plan to acquire up to 24.99% of the private lender’s share capital and voting rights. SMBC, a wholly-owned subsidiary of Japan’s Sumitomo Mitsui Financial Group (SMFG), which holds $2 trillion in assets as of December 2024, is set to become Yes Bank’s largest shareholder. The Reserve Bank of India (RBI) had previously greenlit the acquisition last month.