New Delhi, Sept. 17 -- State Bank of India (SBI) on Wednesday announced the successful completion of the divestment of a 13.18% (approximately) stake in Yes Bank Limited (YBL) to Sumitomo Mitsui Banking Corporation (SMBC), the state-owned lender said in a statement.

SMBC is a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG) and is amongst the leading foreign banks in India. SMFG is the second largest Banking Group in Japan with total assets of around USD 2.0 trillion.

SBI became the largest shareholder of YBL in March 2020 under the Yes Bank Limited Reconstruction Scheme, 2020, as notified by the Central Government.

Subsequently, SBI had also acquired additional shares as part of...