The Competition Commission of India (CCI) has approved the proposed acquisition of certain share capital and voting rights in YES Bank by Japan’s Sumitomo Mitsui Banking Corporation (SMBC).

SMBC, a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, is one of Japan’s leading commercial banks and operates branches in New Delhi, Mumbai, Chennai, and GIFT City, Gandhinagar. It offers services including loans, deposits, and letters of credit in India.

YES Bank, a publicly listed private sector lender, provides a wide range of banking and financial services across retail, MSME, and corporate segments, with a strong focus on digital offerings.