SBI's Strategic Decision to Sell Yes Bank Stake Worth $2.2 Billion
Tuesday, 13 August 2024, 02:59
SBI's Decision to Sell Yes Bank Stake
SBI's decision to divest its stake in Yes Bank is rooted in strategic resource allocation. As one of the major shareholders, holding about 24%, this move signifies SBI's intentions to optimize its portfolio. The sale is projected to yield $2.2 billion by the end of March 2024, making waves in the banking world.
Collaborative Efforts with Other Lenders
In alliance with 11 other lenders, including ICICI Bank and HDFC Bank, who together command a 9.74% stake, SBI's coordinated efforts highlight a new phase in Yes Bank's journey.
- SBI's current stake: 24%
- Projected divestment amount: $2.2 billion
- Collaborating lenders' stake: 9.74%
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.