Sumitomo Mitsui’s $1.6 Billion Stake in Yes Bank: A Strategic Move into India’s Banking Sector
In a landmark development for India’s financial industry, Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has agreed to acquire a 20% stake in Yes Bank for approximately ₹134.8 billion ($1.58 billion). This transaction marks the largest cross-border merger and acquisition deal in India’s banking sector to date. Deal Overview SMBC, a subsidiary of Sumitomo Mitsui Financial