State Bank of India (SBI) has received approval from Executive Committee of the Central Board (ECCB) of the Bank to divest 413,44,04,897 equity shares of Yes Bank (YBL), being equivalent to around 13.19% of YBL shares to Sumitomo Mitsui Banking Corporation (SMBC), at Rs 21.50 per equity share, for a consideration of Rs 8888.97 crore, subject to receipt of all regulatory and statutory approvals by the acquirer.
State Bank of India is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
