SMBC Acquires 20% Stake in Yes Bank, Becomes Largest Shareholder

Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has completed the acquisition of a 20% stake in Yes Bank from State Bank of India (SBI) and other bank investors for Rs 8,889 crore, the private lender announced on Thursday. With this deal, SMBC emerges as Yes Bank’s largest shareholder, while SBI retains over 10% stake. The transaction, the largest cross-border investment in an Indian private bank, also brings two SMBC nominees — Shinichiro Nishino and Rajeev Veeravalli Kannan — onto Yes Bank’s board. Yes Bank said the partnership will boost governance and help expand Japan–India trade and investment flows, strengthening its corporate banking, treasury, and cross-border services. CEO Prashant Kumar called the transaction a “defining moment”, noting that the combined sponsorship of SMBC and SBI uniquely positions Yes Bank for long-term growth. Yes Bank also highlighted that CRISIL, ICRA, India Ratings, and CARE have upgraded its credit rating to AA-, the highest since March 2020, reflecting stronger capital, governance, and performance. #YesBank #SMBC #SBI #Banking #Investment #JapanIndia #FinanceNews