State Bank of India has successfully sold a 13.18% stake in Yes Bank to Sumitomo Mitsui Banking Corporation, making SMBC the largest shareholder in Yes Bank.
Information on the Target
State Bank of India (SBI), a leading public sector bank in India, has recently finalized the sale of a significant stake in Yes Bank, a private sector bank that has been recovering since its reconstruction in 2020. SBI's decision to sell a 13.18% stake reflects its strategic management of investments and risk, particularly in the context of shifting market dynamics and the evolving landscape of the banking sector.
Yes Bank has been undergoing a transformation since it faced financial challenges, leading to its reconstruction. Following this period, Yes Bank has garnered significant interest from both domestic and international investors, signaling a rebound in investor confidence in the private banking sector in India.
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Sumitomo Mitsui Banking Corporation
invested in
Yes Bank
in 2023
in a Other Private Equity deal
Disclosed details
Transaction Size: $1,075M