SMBC's 20% stake purchase is credit positive for Yes Bank: Moody's

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SMBC's 20% stake purchase is credit positive for Yes Bank: Moody's - Business Standard

Quick Summary:

SMBC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG).

SMFG also owns SMFG India Credit, one of the largest diversified non-banking financial companies (NBFCs) in India.

Following the fructification of the deal, SMBC will be able to nominate two non-executive directors to Yes Bank’s board to support its governance and strategy.