Japanese bank SMBC acquires 20% stake in India's Yes Bank, largest in financial sector M&A.

Japanese bank Sumitomo Mitsui Banking Corp (SMBC) will acquire a 20% stake in Yes Bank, marking the largest cross-border M&A deal in India's financial sector. Yes Bank's CEO expects SMBC to maintain this stake, avoiding a 25% threshold that would trigger additional regulatory obligations. The deal, subject to regulatory approvals, is expected to boost Yes Bank's financial capabilities and is seen as credit positive by Moody's Ratings.