Japan's Sumitomo Mitsui Banking Corporation (SUMFDS.UL) has received Indian central bank approval to buy up to 24.99% of India’s Yes Bank (YESB.NS), opens new tab, the Indian bank said in a stock exchange filing on Saturday. The Reserve Bank of India has also decided that SMBC would not be treated as a "promoter" of Yes Bank following the deal, which would have involved additional regulatory requirements, Yes Bank said. In May, the banks informed exchanges that SBMC had inked a deal to take a 20% stake in Yes Bank for $1.6 billion, making it the largest cross-border merger and acquisition deal in India's financial sector. Sources familiar with the matter told Reuters last month that SMBC was seeking approval to buy an additional 4.9% stake in Yes Bank.
Markets
Related Posts
Markets
24X Completes First Bitcoin Spot Trade with Standard Chartered and Cumberland DRW
Tuesday 01st September 2026
Markets
LSEG plans tokenised UK shares, partners with Kraken-owner Payward
Tuesday 01st September 2026Commnets
