New Delhi: Mumbai-based private sector lender Yes Bank Ltd on Saturday announced that it has received approval from the Reserve Bank of India (RBI) for Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to 24.99 percent stake in the bank. The approval was conveyed through an RBI letter dated August 22, 2025, and will remain valid for one year.
Yes Bank clarified in its exchange filing that SMBC will not be categorized as a promoter of the bank after the proposed acquisition.
The transaction, first disclosed on May 9, 2025, envisages SMBC picking up a 20 percent stake through a secondary purchase. This will include 13.19 percent offloaded by State Bank of India and another 6.81 percent combined stake sold by seven other lenders—Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.
RBI’s clearance is subject to compliance with the Banking Regulation Act, 1949, the regulator’s Master Directions on shareholding in banks, the Foreign Exchange Management Act, 1999, and other applicable laws. The central bank has also imposed certain conditions, including lock-in norms, and stated that any subsequent stake transactions will require its prior approval.
The deal’s completion will further depend on clearance from the Competition Commission of India (CCI) and fulfillment of standard conditions laid out under the share purchase agreements.
On Friday, Yes Bank shares closed at Rs 19.28, down 0.77 percent. Despite the dip, the stock has risen around 8 percent in the past six months.
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