Yes Bank shares gain 2% as CCI clears Sumitomo Mitsui’s 25% stake acquisition

Yes Bank climbs after regulatory clearances for SMBC’s stake purchase

Shares of Yes Bank jumped 2 percent to Rs 20 on September 3 after the Competition Commission of India (CCI) cleared Japan’s Sumitomo Mitsui Banking Corporation’s (SMBC) proposal to acquire up to 24.99 percent stake in the private lender.

“The proposed combination relates to the acquisition of share capital and voting rights of Yes Bank by Sumitomo Mitsui Banking Corporation,” the CCI said in its release.

SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), Japan’s second-largest banking group with total assets of $2 trillion as of December 2024 and a significant global presence.

This approval comes close on the heels of the Reserve Bank of India’s (RBI) nod last month for SMBC’s plan to acquire up to 24.99 percent of Yes Bank’s paid-up capital and voting rights.

The transaction traces back to Yes Bank’s May 9, 2025, disclosure that SMBC would purchase a 20 percent stake via a secondary deal, comprising 13.19 percent from State Bank of India (SBI) and 6.81 percent collectively from seven other banks including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank. Following this deal, SMBC will emerge as the single-largest shareholder in Yes Bank.

Separately, the RBI has also approved the re-appointment of Rama Subramaniam Gandhi as part-time Chairman of Yes Bank from September 20, 2025, until May 13, 2027. Gandhi, a seasoned central banker with 37 years of service, earlier served as RBI Deputy Governor between 2014 and 2017.

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