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Sumitomo Mitsui Banking completes acquisition of 20% shareholding in Yes Bank
Sep-18-2025

Sumitomo Mitsui Banking Corporation (SMBC) has successfully completed the acquisition of a 20% shareholding in Yes Bank through a secondary purchase of shares from State Bank of India (SBI) and other bank investors that participated in the Bank’s March 2020 Reconstruction Scheme. The acquisition makes SMBC the largest shareholder in Yes Bank, while SBI continues as a major shareholder with over 10% holding.

The completion of the transaction also saw the induction of two SMBC nominee directors onto Yes Bank’s Board, further strengthening governance and creating a platform for deeper strategic collaboration. With this shareholding structure, Yes Bank is uniquely poised to capitalise on its most transformative phase - backed by two of the most prominent institutions in global and Indian banking. SMBC, part of Sumitomo Mitsui Financial Group (SMFG), one of the world’s leading financial institutions with a global balance sheet of around $2 Trillion, and SBI, India’s largest bank epitomising trust and stability, together reinforce YES Bank’s credibility, governance, and growth potential.

This secondary acquisition follows another major milestone in Yes Bank’s journey - upgrades by all four domestic credit rating agencies. CRISIL, ICRA, India Ratings, and CARE have now assigned the Bank ‘AA-’ ratings, the highest level since March 2020. These upgrades reflect Yes Bank’s strengthened capital position, robust governance, and improved business performance.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

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