Sumitomo Mitsui Banking Corporation is a Japanese bank that has built a significant position in Indian banking through its investment in Yes Bank. It is now the largest shareholder in the Mumbai based private lender.
Ownership and structure
SMBC runs bank branches in India and its parent SMFG wholly owns the lender SMFG India Credit Company after buying the final 25.1 percent in March 2024. In September 2025 SMBC became the largest shareholder of Yes Bank with a 20 percent stake and has RBI clearance to go up to 24.99 percent. Yes Bank Limited is listed on the NSE and BSE under the symbol YESBANK.
What India does for SMBC
India is a major growth market for the SMBC group, which combines corporate banking branches, a wholly owned retail and SME lender and the largest stake in Yes Bank.
Investment and deals
SMBC paid Rs 13,482 crore in 2025 for a 20 percent stake in Yes Bank, and in March 2024 SMFG paid US$0.7 billion for the remaining 25.1 percent of SMFG India Credit Company.
SMBC's India business
In September 2025 SMBC completed the purchase of a 20 per cent stake in Yes Bank for ₹13,482 crore. Yes Bank called the deal the largest single cross border investment in an Indian private sector bank.
The RBI cleared SMBC to raise its Yes Bank holding to as much as 24.99 per cent. Two SMBC representatives joined the Yes Bank board after the deal.
Key moves in India
- 2021: In November SMFG acquired 74.9 percent of Fullerton India Credit Company from Fullerton Financial Holdings.
- 2023: Fullerton India Credit Company was renamed SMFG India Credit Company.
- 2024: In March SMFG bought the remaining 25.1 percent of SMFG India Credit Company for US$0.7 billion, making it wholly owned.
- 2024: SMBC expanded to GIFT City in Gujarat to strengthen its corporate banking network.
- 2025: In May State Bank of India and seven private banks agreed to sell a 20 percent stake in Yes Bank to SMBC for Rs 13,482 crore.
- 2025: In September SMBC completed the Yes Bank stake purchase, became its largest shareholder and placed two representatives on its board.
Where it operates
SMBC has a presence in Mumbai and GIFT City.
At a glance
- Home country: Japan
- Global headquarters: Tokyo
- Sector: Banking & Financial Services
- Business: Banking
- Role of India: Financial services franchise, Investment portfolio
- India offices: Mumbai, GIFT City
- India headcount: Not available
- Listed in India: Yes Bank Limited (YESBANK)
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