M&AMoneycontrol
SMBC to consolidate India ops under Yes Bank by FY29
Positive+63
GreyOak summary
SMBC informed the RBI it will consolidate all its India operations under Yes Bank by the end of FY29. This fast-tracked plan follows a Supreme Court verdict restoring claims on Yes Bank's AT-1 bonds, which may reduce the bank's CET1 capital ratio. The merger will occur in three stages, with the final integration of SMBC's subsidiary into Yes Bank scheduled for FY29.
What it affects
- Yes BankYESBANKPositive +63
SMBC to merge India ops into Yes Bank.Rolling sentiment Negative -38
Source
Read the original at MoneycontrolMore Yes Bank news
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