SMBC Group and SMBC to acquire a 4.22% stake in YES BANK from Carlyle for INR28.5bn.

SMBC Group, a Japanese multinational financial services group and holding company, and SMBC, a Japanese multinational banking financial services institution owned by SMBC Group, agreed to acquire a 4.22% stake in YES BANK, an Indian private sector bank, catering to retail customers, MSMEs, and corporate clients, from Carlyle, an American multinational private equity, alternative asset management, and financial services corporation, for INR28.5bn.