Sumitomo Mitsui Eyes Expansion in India: What It Means for Yes Bank and Its Investors
Sumitomo Mitsui Banking Corporation (SMBC) plans to set up a wholly owned arm in India. Could this lead to a strategic takeover of Yes Bank? Explore its meaning, investor benefits, fundamentals, and technical outlook. Sumitomo Mitsui Eyes Expansion in India: What It Means for Yes Bank and Its Investors SMBC Seeks RBI Approval to Deepen India Presence Japan's Sumitomo Mitsui Banking Corporation (SMBC) —the country’s second-largest banking giant—is preparing to seek a licence from the Reserve Bank of India (RBI) to establish a wholly owned subsidiary (WoS) in India. This move follows its definitive agreement signed on May 9 , potentially signaling its ambition to increase control in a private sector bank like Yes Bank . Industry insiders see this as a strategic attempt by SMBC to expand its influence in India’s rapidly growing banking sector. What This Move Means ▶ Strategic Intent: A wholly owned subsidiary allows a foreign bank to operate like a domestic bank with ...