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SMBC signed a definitive agreement on May 9, 2025, to purchase the stake through a secondary deal: 13.19% from State Bank of India (SBI) and 6.81% collectively from a consortium of Investor Banks'Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank. This transaction comes five years after SBI and the investor banks stepped in to rescue Yes Bank under a government-backed reconstruction plan in March 2020. SBI's Executive Committee of the Central Board (ECCB) approved the sale of 413.44 crore shares at Rs 21.50 per share, fetching Rs 8,888.97 crore for the public sector lender. Once the transaction closes'expected within 12 months, subject to regulatory approvals'SMBC will emerge as Yes Bank's largest shareholder. As of March 2025, SBI holds the largest stake in Yes Bank at 23.97%, followed by smaller stakes from HDFC Bank (2.75%), ICICI Bank (2.39%), Kotak Mahindra Bank (1.21%), Axis (1.01%), IDFC First Bank (0.92%), Federal Bank (0.76%), and Bandhan Bank (0.70%). Post-deal, SBI's shareholding will reduce to 10.78%. SMBC, a core banking arm of Sumitomo Mitsui Financial Group (SMFG), is a leading global financial institution with a strong presence across Asia. Yes Bank, a full-service commercial bank headquartered in Mumbai, offers a wide array of products, services, and digital solutions, catering to retail, MSME, and corporate clients. Yes Bank reported 63.34% surge in standalone net profit to Rs 738.12 crore in Q4 FY25 as against Rs 451.89 crore in Q4 FY24. Total income rose 3.76% YoY to Rs 9,355.39 crore in the quarter ended 31 March 2025. Net Interest Income (NII) for Q4 FY25 stood at Rs 2,276 crore, registering a year-on-year (YoY) growth of 5.71%. Meanwhile, the net interest margin (NIM) improved to 2.5% in Q4 FY25, compared to 2.4% reported in the same quarter last year. Powered by Capital Market - Live News |