The deal values the stake sold by SBI at ₹8,889 crore.
At the end of March quarter, SBI held a 24% stake in Yes Bank, followed by lenders including HDFC Bank(2.75%), ICICI Bank (2.39%), Kotak Mahindra Bank (1.21%), Axis Bank (1.01%) and LIC (3.98%).
After the RBI suspended Yes Bank’s board, a consortium of banks, led by SBI, rescued the lender with an investment of ₹7,250 crore for 49% stake in 2020.
SBI was issued shares back in 2020 at ₹10 per share.
“SBI’s stake sale should result in a gain of ₹4,760 crore, which is 7.5% of their financial year 2026 profit and release 13 basis points of their CET1. It will still leave SBI with a balance 10.9% stake in Yes Bank,” analysts from IIFL said.
Earlier this week, reports had stated that Sumitomo had received approval from the Reserve Bank of India to acquire 51% stake in Yes Bank, paving the way for an exit for SBI. Reports had suggested that the deal could value Yes Bank at $1.7 billion, under which SMBC would either buy less than 26% stake and do a merger via a share swap , or may be up to 26% stake and trigger an open offer.
In response, Yes Bank had issued a clarification regarding Japan’s Sumitomo Mitsui Banking Corp (SMBC) being in talks with SBI for stake acquisition in the former, saying the bank is on a growth trajectory and routinely explores opportunities with various stakeholders, but such discussions are preliminary and do not warrant a disclosure.
Back then, Yes Bank had fallen short of liquidity requirements and its founder and CEO Rana Kapoor failed the get the RBI’s approval to continue at the helm. Yes Bank does not have a promoter ever since Kapoor’s exit in 2019.
Shares of Yes Bank ended 10% higher on Friday at ₹20.05.
First Published: May 9, 2025 3:53 PM IST
