Japan's Sumitomo Mitsui Banking Corp. (SMBC) has secured Reserve Bank of India's (RBI) go-ahead to acquire 51% in private lender Yes Bank , two people aware of the development said. SMBC will ... Sumitomo Mitsui Banking Corporation to acquire 33.71% stake in YES Bank , triggering open offer for shareholders. Yes Bank is in the spotlight today as reports suggested that Japanese giant Sumitomo Mitsui Banking Corp. (SMBC) is inching closer to buying a stake in the private lender. Acquisition of Shares in YES BANK Limited Sumitomo Mitsui Financial Group, Inc. (President & Group CEO: Toru Nakashima, hereinafter referred to as the "SMBC Group") and Sumitomo Mitsui Banking Corporation (President and CEO: Akihiro Fukutome, hereinafter "SMBC") announced that SMBC has reached an agreement with State Bank of India (Chairman: Challa Sreenivasulu Setty, hereinafter referred to as "SBI"), the state-owned bank of the Republic of India (herein after referred to as "India") and ...
