Sumitomo Mitsui Doubles Down On India With Plan To Buy Stake In Yes Bank For $1.6 Billion

Japan’s SMBC to Take 20% Stake in India’s Yes Bank

MUMBAI/TOKYO, May 9 (Reuters) - Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) has signed a definitive agreement to take a 20% stake in Indian private lender Yes Bank YESB.NS, a deal that marks the largest cross-border merger and acquisition deal in India's financial sector.

Sumitomo Mitsui Doubles Down On India With Plan To Buy Stake In Yes Bank For $1.6 Billion

Upon completion of the deal, Sumitomo Mitsui will be the biggest shareholder of Yes Bank, whose earnings have recovered since the State Bank of India and other investors injected fresh capital into the lender in 2020.

Japan's SMFG to invest $1.6bn in India's Yes Bank

TOKYO -- Sumitomo Mitsui Financial Group announced plans Friday to invest in Yes Bank, a major Indian commercial bank, expanding its foothold in a key

Japan's SMBC to take 20% stake in India's Yes Bank

MUMBAI :Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) has a agreed to acquire a 20 per cent stake in Indian private lender Yes Bank in what would be the largest cross-border merger and acquisition deal in India's financial sector.SMBC will acquire a 13.19 per cent stake from State Bank of India,

Japan’s SMBC to buy 13.2% stake in India’s Yes Bank for $1 billion

The Sumitomo Mitsui deal marks the biggest foreign investment in India’s banking sector, and is the latest move by Japanese lenders to expand in the country.

SBI to sell 13.19% stake in Yes Bank to Japan's SMBC for Rs 8,889 Cr

SBI acquired the stake during Yes Bank's financial crisis in 2020