SBI Sells 13.18% Stake in Yes Bank to Japan's SMBC
In a landmark cross-border transaction in India’s banking sector, the State Bank of India (SBI) has completed the sale of 13.18% stake in Yes Bank to Sumitomo Mitsui Banking Corporation (SMBC) for a total consideration of ₹8,889 crore. The deal reflects increased global investor confidence in India’s banking reforms and sets the stage for deeper strategic ties between Indian banks and global financial institutions.
Following all required clearances, the transfer of shares was completed as per the agreement’s customary conditions precedent.
SBI and seven other banks — including HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC First Bank, Federal Bank, and Bandhan Bank — had originally invested in Yes Bank at ₹10 per share in 2020.
SBI continues to retain a minority stake in Yes Bank post-sale.
Mobile Phones are a very important part of our daily life. From calling and messaging…
Mongolian parliament has appointed the Uchral Nyam-Osor as the country' new Prime Minister. With this…
To boost export potential of Indian textile industries Ministry of Textiles has extended the RoSCTL…
From the April 1st fuel stations across the country are now supplying that petrol which…
The Ministry of Education has granted the 'deemed to be university’ status to National Council…
India's Gaganyaan Mission have begun the unique experiment which is called Mission Mitra in the…