SBI Offloads 13.18% Stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corp for ₹8,889 Crore; Stock Ends 3% Higher

SBI divests 13.18% stake in Yes Bank to Sumitomo Mitsui Banking Corp for ₹8,889 crore

SBI completes divestment of 13.18% stake in Yes Bank to SMBC, marking largest cross-border investment in Indian banking.

SBI offloads 13.18% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corp for ₹8,889 crore; stock ends 3% higher

India's largest lender — the State Bank of India (SBI) — on Wednesday, September 18, announced that it has completed the divestment of about 13.18% stake in private bank Yes Bank. The stake was sold to Sumitomo Mitsui Banking Corporation (SMBC) of Japan for ₹8,888.97 crore.

SBI completes divestment of 13.18% stake in Yes Bank to Japan's SMBC

SBI completes divestment of 13.18% stake in Yes Bank to Japan's SMBC

SMBC to purchase additional 4.2% stake in India’s YES Bank

Sumitomo Mitsui Banking Corporation (SMBC) has reached an agreement with CA Basque Investments, an affiliate of the global investment firm The Carlyle Group, to increase its equity stake in YES Bank by an additional 4.2%. The agreement follows the completion of SMBC’s initial acquisition of a 20% stake in the Indian private commercial bank. SMBC acquired this stake through a secondary purchase of shares from State Bank of India (SBI) and additio…

SBI Divests 13.18% Stake in Yes Bank to Japan’s SMBC in Landmark Cross-Border Deal

State Bank of India (SBI), the country’s largest lender, today, announced the successful completion of the divestment of a 13.18% (approx.) stake in Yes Bank Limited (YBL) to Sumitomo Mitsui Banking Corporation (SMBC). SMBC is a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG) and is amongst the leading foreign banks in India. SMFG is the second largest Banking Group in Japan with Total As…

SBI completes divestment of 13.18% stake in Yes Bank Limited to Sumitomo Mitsui Banking Corporation

State Bank of India (SBI), the country’s largest lender, today, announced the successful completion of the divestment of a 13.18% (approx.) stake in Yes Bank Limited (YBL) to Sumitomo Mitsui Banking Corporation (SMBC). SMBC is a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG) and is amongst the leading foreign banks […] The post SBI completes divestment of 13.18% stake in Yes Bank Limited…