India's Yes Bank rises after SMBC inks deal to buy stake in lender

IDFC First Bank

12/05/2025 06:38

** Yes Bank YESB.NS rises 2.1%; State Bank of India SBI.NS gains 1.9%

** Japan's Sumitomo Mitsui Banking Corp (SMBC), a unit of Sumitomo Mitsui Financial Group 8316.T, said on Friday it will buy 20% stake in Yes Bank from SBI, other lenders

** YESB closed nearly 10% higher on Friday before deal was announced

** SMBC to acquire 13.19% stake from SBI and an aggregate of 6.81% from Axis Bank AXBK.NS, Bandhan Bank BANH.NS, Federal Bank FED.NS, HDFC Bank HDBK.NS, ICICI Bank ICBK.NS, IDFC First Bank IDFB.NS and Kotak Mahindra Bank KTKM.NS

** On Monday, around 318 mln YESB shares traded vs 30-day avg of ~129 mln

** YTD, YESB up 4%

 (Reporting by Vijay Malkar and Hritam Mukherjee in Bengaluru)

 ((VijayDattaram.Malkar@thomsonreuters.com;))