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Informist, Wednesday, Sept. 10, 2025

--RBI OKs Sumitomo Mitsui Banking to nominate 2 directors on YES Bank board 

--RBI allows SBI to nominate 1 director on YES Bank board 

NEW DELHI – The Reserve Bank of India has approved the restructuring of YES Bank's Board following Sumitomo Mitsui Banking Corp. acquiring up to 24.99% of the paid-up share capital or voting rights of the bank. The Japanese multinational banking group can nominate two directors while State Bank of India can nominate one director, YES Bank said in an exchange filing Tuesday. 

With the Competition Commission of India's nod on Sept. 2, the transaction was concluded, with Sumitomo Mitsui purchasing shares from existing shareholders, including SBI and several other public-sector banks that participated in YES Bank's 2020 reconstruction. SBI's second nominee will step down immediately upon the closing of the transaction, YES Bank had earlier said in an investor presentation.

YES Bank's net profit surged nearly 60% on year in the June quarter to INR 8.01 billion. Sequentially, the profit rose 8.5%. The bank's other income surged around 46% on year to INR 17.52 billion in Apr-Jun. On Tuesday, shares of YES Bank, ended at INR 20.34 on the National Stock Exchange, down 0.8%.   End

Reported by Priyasmita Dutta

Edited by Akul Nishant Akhoury

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