Yes Bank on Wednesday said the Reserve Bank of India (RBI) has approved proposed amendments to the bank’s Articles of Association (AoA) relating to the appointment of nominee directors on its board.
The move comes ahead of Japan-based Sumitomo Mitsui Banking Corporation’s (SMBC) planned acquisition of stakes from State Bank of India (SBI) and seven other lenders. Under the changes, SMBC will nominate two directors, while SBI will nominate one, to the bank’s board once the stake transfer is completed.
Yes Bank received formal approval from the RBI via a letter dated September 9, 2025, allowing the amendments to its AoA.
Back in May, Yes Bank had disclosed that SMBC intends to acquire a 20% stake through a secondary purchase, which includes 13.19% from SBI and 6.81% from Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank. The deal also recently cleared the Competition Commission of India (CCI).
The RBI has clarified that SMBC will not be considered a promoter of Yes Bank. Following the transaction, SBI’s holding in the bank, currently at 24%, will drop to slightly over 10%.
Financially, Yes Bank has posted robust performance. For the fourth quarter ending March 2025, standalone net profit rose 63% to Rs 738 crore from Rs 451.9 crore a year earlier. For the full fiscal year, net profit more than doubled to Rs 2,406 crore from Rs 1,251 crore in FY24.
With inputs from PTI
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The move comes ahead of Japan-based Sumitomo Mitsui Banking Corporation’s (SMBC) planned acquisition of stakes from State Bank of India (SBI) and seven other lenders. Under the changes, SMBC will nominate two directors, while SBI will nominate one, to the bank’s board once the stake transfer is completed.
Yes Bank received formal approval from the RBI via a letter dated September 9, 2025, allowing the amendments to its AoA.
Back in May, Yes Bank had disclosed that SMBC intends to acquire a 20% stake through a secondary purchase, which includes 13.19% from SBI and 6.81% from Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank. The deal also recently cleared the Competition Commission of India (CCI).
The RBI has clarified that SMBC will not be considered a promoter of Yes Bank. Following the transaction, SBI’s holding in the bank, currently at 24%, will drop to slightly over 10%.
Financially, Yes Bank has posted robust performance. For the fourth quarter ending March 2025, standalone net profit rose 63% to Rs 738 crore from Rs 451.9 crore a year earlier. For the full fiscal year, net profit more than doubled to Rs 2,406 crore from Rs 1,251 crore in FY24.
With inputs from PTI
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