Sumitomo Mitsui Banking Corporation (SMBC) has successfully completed the acquisition of a 20% shareholding in YES Bank through a secondary purchase of shares from State Bank of India (SBI) and other bank investors that participated in the Bank's March 2020 Reconstruction Scheme. The acquisition makes SMBC the largest shareholder in YES Bank, while SBI continues as a major shareholder with over 10% holding.
The completion of the transaction also saw the induction of two SMBC nominee directors onto YES Bank's Board, further strengthening governance and creating a platform for deeper strategic collaboration.
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