Japan’s SMBC is buying a 20% stake in India’s Yes Bank

Yes Bank is India’s sixth-largest private sector commercial bank in India.

Sumitomo Mitsui Financial Group (SMBC Group) is acquiring a 20% equity stake in Yes Bank, a private commercial bank in India, for $1.59b (INR134.8b or approximately JPY240b), according to an announcement.

With this, Yes Bank is expected to become an equity-method affiliate of SMBC Group and its main banking business Sumitomo Mitsui Banking Corporation (SMBC).

Yes Bank is the sixth-largest private sector commercial bank in India. It has over 1,200 branches.

The Japanese banking group expects the stake acquisition to accelerate its business in India.

SMBC currently has branches in Mumbai, Chennai, and Gift City. SMBC Group had established an India division in April 2025.

(US$1 = INR84.72; as of 13 May 2025, Google)