17
Sep
#SBI #YesBank #SMBC #BankingSector #CrossBorderDeal #IndianBanking #GlobalInvestment #FinancialNews #BankingPartnership #StrategicInvestment Chandigarh: State Bank of India (SBI), the country’s largest lender, today, announced the successful completion of the divestment of a 13.18% (approx.) stake in Yes Bank Limited (YBL) to Sumitomo Mitsui Banking Corporation (SMBC). SMBC is a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG) and is amongst the leading foreign banks in India. SMFG is the second largest Banking Group in Japan with Total Assets of US$ 2.0 trillion (approx.). SBI became the largest shareholder of YBL in March 2020 under the Yes Bank…