YES Bank Completes 20% Stake Transfer to SMBC; Announces Board Changes

Mumbai, September 18, 2025 – In a regulatory filing, YES Bank Limited (NSE: YESBANK, BSE: 532648) announced that the strategic stake transfer to Sumitomo Mitsui Banking Corporation (SMBC) has been successfully completed. The transfer marks a significant shift in its shareholding structure from SBI to SMBC. The bank also confirmed key board-level changes, including resignations and new appointments.

Completion of SMBC Transaction

In its regulatory filing made today, YES Bank’s Board confirmed 6,271,235,194 of its equity shares (20% stake), which were held by State Bank of India and other shareholders, to SMBC. The transaction included 4,134,404,897 equity shares constituting 13.19% of its state previously held by State Bank of India, and 2,136,830,297 equity shares constituting 6.81% of Yes Bank’s stake, which other shareholders, including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank, held. As the transfer was finalized, SMBC became a key strategic shareholder in YES Bank.

Board-Level Changes

Along with its stake changing hands, the bank also underwent some structural changes at the board level with a few resignations and new appointments.

• Resignation: Mr. Sandeep Tewari, nominee director of State Bank of India, stepped down from the board with effect from September 17, 2025, citing professional pursuits.
• Appointments: The board approved the appointment of two SMBC nominee directors effective September 18, 2025:
• • Mr. Shinichiro Nishino, Executive Officer and Head of Global Credit at SMBC, Tokyo.
  • Mr. Rajeev Veeravalli Kannan, Managing Executive Officer and Head of India Division at SMBC and Sumitomo Mitsui Financial Group.

The appointments are pending approval by shareholders, which will be obtained with the help of the postal ballot process.

Market Outlook

As of September 18, 2025, 2:00 pm, shares of Yes Bank Limited were trading at ₹21.00, down by 0.15 points, a 0.71% decrease. The company had an overall traded volume of 574.38 lakhs shares while its total traded value and total market cap stood at ₹121.14 crore and ₹65,878.81 crore, respectively.

REF: https://nsearchives.nseindia.com/corporate/YESBANK_18092025115807_YBL_SE_Intimation_Outcome_of_Board_Meeting_SMBC_18092025_signed.pdf

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