Yes Bank rises after RBI nod for SMBC stake buy

Yes Bank gained 2.02% to Rs 19.67 after the Reserve Bank of India approved Sumitomo Mitsui Banking Corporation's plan to acquire up to 24.99% stake and voting rights in the lender.

The Japanese banking giant had earlier proposed a 20% acquisition, including a 13.19% stake purchase from State Bank of India and 6.81% from seven other shareholders such as Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank, and IDFC First Bank.

RBI clarified that SMBC will not be classified as a promoter post-acquisition. The approval is valid for one year and is subject to regulatory conditions under the Banking Regulation Act, FEMA, and RBI?s guidelines on shareholding in banks. The deal will also require clearance from the Competition Commission of India before completion.

Mumbai-based Yes Bank, a full-service commercial bank, offers a wide array of products, services, and digital solutions, catering to retail, MSME, and corporate clients.

The bank reported 59.43% surge in net profit to Rs 801.07 crore while total income rose 4.82% to Rs 9,348.11 crore in Q1 June 2025 over Q1 June 2024.

Powered by Capital Market - Live News