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The State Bank of India (SBI), the largest PSU bank in India, has divested its 13.18 per cent stake in Yes Bank for Rs 8,889 crore, according to a stock market disclosure on Wednesday, September 17. The stake has been bought by Japan’s Sumitomo Mitsui Banking Corporation (SMBC), a wholly-owned subsidiary of Sumitomo Mitsui Financial Group.

According to SBI, SMBC took the necessary approvals from the Reserve Bank of India (RBI) on August 22, 2025, to execute the deal. With this, SMBC marked its entry in the Indian banking space.

The deal also follows the approval granted by SBI’s Executive Committee of the Central Board in May 2025. The agreement also included customary conditions precedent, which have now been met, allowing the transfer of shares to be completed.

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SBI sold its 413.44 crore equity shares of Yes Bank at Rs 21.50 each, totalling Rs 8,889 crore.

SBI, which has a total of 24 per cent stake in Yes Bank, has partially exited the bank. The PSU lender alongwith seven private banks, HDFC Bank, ICICI Bank, Kotak Mahindra, Axis Bank, IDFC First Bank, Federal Bank, and Bandhan Bank, had signed a deal to offload 20 per cent stake in Yes Bank at Rs 21.50 per share.

The remaining 6.81 per cent stake will be sold by other banks, as per the agreement.

Meanwhile, shares of SBI were trading at Rs 847.25 apiece, up 1.86 per cent on BSE at around 1.33 PM IST. 

As a foreign bank, SMBC has branches in New Delhi, Mumbai, Chennai, and Gandhinagar. SMBC received RBI's nod to buy 24.99 per cent stake in Yes Bank. Now, the Japanese banking firm may reportedly acquire the remaining stake from PE firms Advent and Carlyle, or through any other mode.

Yes Bank is a full-service bank offering a wide array of products, services, and technology-driven digital offerings, catering to retail, MSMEs, as well as corporate clients.

At around 1.33 PM IST, Yes Bank's scrip was trading at 20.93 each, down 0.33 per cent on BSE. 

Also Read: Japan-based bank's YES Bank stake buy cleared by fair trade regulator

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