The Competition Commission of India (“CCI”), vide Press Release No. 57/2025-2026,[1] dated September 02, 2025, has approved the proposed acquisition of certain share capital and voting rights in YES Bank Limited (“YES Bank”) by Sumitomo Mitsui Banking Corporation (“SMBC”). This transaction falls under the combinations regulated by the Competition Act, 2002 and was assessed for any potential adverse impact on market competition in India.
Parties to the Transaction:
- SMBC, a wholly-owned subsidiary and a core operating entity of Sumitomo Mitsui Financial Group, based in Japan. SMBC operates branches in New Delhi, Mumbai, Chennai, and an offshore branch in GIFT City, Gandhinagar. It offers various services in India including loan provisioning, deposit services, and issuance of letters of credit.
- YES Bank, a public listed private sector bank in India, offers a comprehensive suite of retail, MSME, and corporate banking services along with a wide range of technology-driven digital offerings.
[1] https://www.cci.gov.in/media-gallery/press-release/details/565/0