Japanese lender SMBC to buy 20% stake in Yes Bank for Rs 13,483 crore

Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) will invest Rs 13,483 crore to acquire a 20% stake in Yes Bank from State Bank of India and other lenders. This is the largest foreign investment in India’s banking sector. The deal is expected to bring in global expertise and high governance standards to Yes Bank.