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.
Today, the internet is an important part of our daily life. We use it to…
Dabur has appointed Mr. Herjit S Bhalla as the Chief Executive Officer (CEO) of Its…
Brazil has overtaken India as the leading exporter of the corn (maize) to Bangladesh. This…
Aligarh is a well-known city in Uttar Pradesh. It is popularly called the "City of…
The recent satellite based global study has revealed that the landfill sites in the Secunderabad…
The Appointments Committee of the Cabinet (ACC) has approved the three-year extension for the Managing…