Yes Bank share price jumps 3% as reports suggest SMBC is open to raising stake in lender
Private lender Yes Bank share price jumped nearly 3% to ₹23.30 apiece in Monday’s trading session after reports revealed that Sumitomo Mitsui Banking Corporation (SMBC) is open to buying more stake in the private lender.
According to a report by The Economic Times, the Japanese financial institution, which currently holds a 24.99% stake in Yes Bank, is open to buying additional stake, depending upon regulatory approval.
“We followed what the regulators allowed us to do. The regulators allowed us to buy up to 24.99%, which is what we have done. If there is an option to do more, we may be open to it. If there are the right opportunities, we can go beyond (24.99%). But I think that is obviously subject to regulatory discussions,” SMBC…
