Govt has approved stake purchase in Yes Bank by SMBC Japan

The Competition Commission of India has approved Japanese company Sumitomo Mitsui Banking Corporation’s stake purchase in Indian lender Yes Bank.

SMBC in May had signed a deal to purchase 20% stake in Yes Bank for $1.6 billion, making it the largest cross-border merger and acquisition deal in India’s financial sector.

More details will be released soon.

Currently, SMBC holds a 20% stake in Yes Bank, acquired in May 2025 through a secondary share purchase. This comprised a 13.19% stake from State Bank of India (SBI) and a combined 6.81% stake from seven other domestic banks: Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.