The CEO of Sumitomo Mitsui Banking Corporation (SMBC), Akihiro Fukutome, is expected to visit India to discuss acquiring a 51% stake in Yes Bank, reportedly valued at $5 billion (₹41,981 crore).
Meetings with officials from the Reserve Bank of India and the State Bank of India are planned. Although reports of the stake sale were denied by Yes Bank as speculative, interest from major Japanese financial groups like Mitsubishi UFJ and Mizuho Bank persists. SMBC has enlisted JPMorgan as its financial adviser for this potential deal.