Mumbai, May 9 -- Sumitomo Mitsui Banking Corporation (SMBC) has entered into a definitive agreement on 9 May 2025 to acquire 20% stake in Yes Bank through a secondary stake purchase of 13.19% from SBI and 6.81% aggregate stake from other bank shareholders ("Investor Banks") including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank. This transaction is the largest cross-border investment in the Indian banking sector.

SBI and the seven investor banks had invested in Yes Bank as part of its reconstruction scheme in March 2020.

SBI's Executive Committee of the Central Board (ECCB) approved the deal involving the transfer of 413.44 crore equity shares (13.19% equity) at a price of Rs 21.5...