SMBC to buy additional 4.2% stake in Yes Bank for $101.7m

It has already completed the acquisition for a 20% equity stake in the Indian bank.

Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation have signed an agreement to acquire an additional 4.2% equity stake in India’s Yes Bank for approximately JPY51b (IDR28.5b; or US$101.79m).

The Japanese megabank is buying the additional stake from CA Basque Investments, a company affiliated with the investment firm The Carlyle Group Inc., according to a statement on 18 September 2025.

SMBC Group has recently completed its acquisition of a 20% equity stake in India’s Yes Bank from the State Bank of India and other financial institutions.

Two SMBC-nominated non-executive directors will be appointed to Yes Bank’s board of directors, the Japanese megabank said in a press release on 18 September 2025.  Yes Bank is also now an equity-method affiliate of SMBC Group and SMBC.

With the additional 4.2% stake, SMBC’s shareholding in Yes Bank is expected to be 24.2%.

Separately, SMBC has sold its entire 1.65% equity stake in Kotak Mahindra Bank, another commercial bank in India, as of 10 September 2025. The move is part of its rebalancing of its strategic investment portfolio, the Japanese bank said.

(US$1 = JPY147.36; as of 19 September 2025, Morningstar via Google)