State Bank Of India has informed the Exchange about Divestment of stake in Yes Bank Limited (YBL) by State Bank of India (SBI) to Sumitomo Mitsui Banking Corporation (SMBC)
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State Bank of India has informed the exchange about divesting its stake in Yes Bank Limited to Sumitomo Mitsui Banking Corporation (SMBC), a major Japanese banking group. SBI had acquired a stake in Yes Bank during the 2020 rescue/recapitalization when the RBI-led restructuring placed PSU banks at the helm of the private lender. The transaction marks SMBC's deepening footprint in the Indian banking sector, as SMBC already holds a stake in SBI itself and other Indian financial entities. The exact size of the stake, deal value, and pricing have not been disclosed in this headline and would require follow-up details.
This is a routine portfolio rebalancing move for SBI and is unlikely to be material to its earnings. The bigger market interest lies in SMBC gaining a stronger foothold in Yes Bank, which could be seen as a positive credibility signal for Yes Bank given SMBC's global banking stature.