SMBC Increases Stake in Yes Bank, Becomes Largest Shareholder

A Japanese bank called SMBC bought more shares of Yes Bank, a bank in India.

This increased SMBC's ownership to 24.22%, making them the biggest shareholder.

SBI, another big bank, still owns over 10% of Yes Bank.

SMBC plans to help Yes Bank grow by facilitating trade and investment between Japan and India.

Yes Bank also received better ratings from credit agencies, showing the bank is doing well and has improved finances.

This happened after SBI sold a portion of its shares to SMBC.