SMBC to buy further 4.2% of Yes Bank from Carlyle affiliate

Core Viewpoint - Sumitomo Mitsui Financial Group's banking arm is expanding its investment in Yes Bank by acquiring an additional 4.2% stake for 51 billion yen ($349 million) from a Carlyle Group affiliate [1] Company Summary - The acquisition will increase Sumitomo Mitsui Financial Group's ownership in Yes Bank, indicating a strategic move to strengthen its presence in the Indian banking sector [1] - The transaction reflects the ongoing interest of foreign investors in India's banking industry, particularly in the context of recovery and growth opportunities [1] Financial Summary - The purchase price for the additional stake is 51 billion yen, equivalent to approximately $349 million [1] - The acquisition represents a 4.2% increase in stake, showcasing the company's commitment to Yes Bank's future [1]