SMBC acquires additional 4.22% stake in Yes Bank
New Delhi, Sept. 24 -- Yes Bank on Tuesday said Sumitomo Mitsui Banking Corporation (SMBC) of Japan has acquired an additional 4.22% stake in the Mumbai-based bank.
With the acquisition, SMBC's stake in Yes Bank has increased from 20% to 24.22%.
SMBC acquired 132.39 crore shares via off-market sale on September 22, Yes Bank said in a regulatory filing.
With the acquisition, the total holding of the Japanese entity in the bank rose to 759.51 crore shares, it said.
With this transaction, SMBC has become Yes Bank's largest shareholder, while State Bank of India (SBI) continues to hold a significant stake of over 10% in the bank.
The private sector bank stated its intention to leverage SMBC's global strengths, particularly in facilitating trade and investment flows between Japan and India, to accelerate growth in its corporate banking, treasury services, and cross-border solutions....
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