SBI, Bandhan Bank, and Federal Bank Sold 446 Crore Shares of Yes Bank to SMBC

State Bank of India (SBI), Bandhan Bank and Federal Bank have sold a combined stake of over 446 crore shares in Yes Bank Limited to Japan's Sumitomo Mitsui Banking Corporation (SMBC), amounting to more than ₹15,800 crore.

Breakdown of Stake Sales by Indian Lenders

Bandhan Bank disclosed it sold 15.39 crore shares at ₹21.50 apiece, trimming its stake in Yes Bank from 0.70% to 0.21%. Federal Bank separately said it offloaded 16.62 crore shares, also at ₹21.50 per share, to SMBC under a previously signed agreement.

The biggest seller was SBI, which completed the divestment of a 13.18% stake, amounting to 413.44 crore shares, at ₹21.50 per share, fetching ₹8,889 crore. The sale followed approvals from the Reserve Bank of India (August 22) and the Competition Commission of India (September 2). SBI's board had cleared the deal in May 2025.

Yes Bank History

Yes Bank, a high-profile rescue led by SBI and seven other private banks in 2020, has been gradually stabilising its balance sheet. Under the current agreement, SBI has sold 13.19% of its 24% holding, while the seven private banks, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC First Bank, Federal Bank and Bandhan Bank, are jointly selling 6.81%. They had originally invested at ₹10 per share in 2020.

Also Read: Japan’s SMBC to Raise Stake in Yes Bank, Buys 4.2% from Carlyle Group

SMBC to Raise Stake in Yes Bank

For SMBC, part of Sumitomo Mitsui Financial Group (SMFG), the purchases mark a decisive entry into Indian banking. The Japanese major has RBI approval to raise its stake in Yes Bank up to 24.99% and has secured the right to nominate two directors on the bank's board. As per news reports, SMBC may also infuse ₹16,000 crore into Yes Bank through a mix of debt and equity.

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