Yes Bank Shares Jump 9% in Big Boost from SMBC Deal

Yes Bank Stock Surges on SMBC Investment

Shares of Yes Bank surged nearly 9% on Friday after Japanese banking giant Sumitomo Mitsui Banking Corporation (SMBC) inked a deal to acquire a 20% stake in the struggling Indian lender for Rs 13,483 crore ($1.7 billion).

This major investment comes as a significant lifeline for Yes Bank, which has been grappling with financial troubles in recent years. The deal, approved by the Reserve Bank of India, is expected to bolster Yes Bank’s capital base and strengthen its financial position.

SMBC’s Stake and Future Plans

SMBC’s investment gives it a substantial stake in Yes Bank, making it one of the largest shareholders.

The Japanese bank has indicated its intention to work closely with Yes Bank’s management to support its growth and stability. This strategic partnership is likely to bring valuable expertise and resources to Yes Bank, helping it navigate the challenges it faces.