Japan’s Sumitomo Mitsui Financial Group (SMFG) has announced that it will increase its stake in YES Bank by acquiring an additional 4.2% from Carlyle’s CA Basque. The deal is valued at about 51 billion yen (₹2,800 crore).
Following this transaction, SMFG’s total holding in YES Bank will rise to 24.2%, making the Indian private lender its equity-method affiliate. The move highlights SMFG’s growing commitment to India’s banking sector, where strong credit demand and rapid digital adoption are driving growth opportunities.
The acquisition comes shortly after SMFG’s unit completed the sale of its stake in Kotak Mahindra Bank on September 10, signaling a clear strategic realignment towards strengthening its partnership with YES Bank.
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