Yes Bank Downplays Immediate Stake Sale Speculations

Mumbai: Yes Bank has recently addressed the swirling rumors regarding an imminent stake sale, emphasizing that the discussions with potential investors, including Japan's Sumitomo Mitsui Banking Corporation (SMBC), are still in their preliminary stages. The bank stated that these talks are not substantial enough to require any formal disclosure at this point.

In a move to clarify its position, Yes Bank filed a regulatory statement mentioning its routine exploration of opportunities aimed at enhancing shareholder value. However, it labeled the current negotiations as speculative, urging stakeholders and the public to rely on official communications for accurate information.

The bank's statement was a direct response to a media report suggesting that SMBC was in advanced talks to acquire a majority stake in Yes Bank, highlighting the importance of verifying such claims before drawing conclusions.