Mitsubishi UFJ Financial Group will acquire a 20% stake in Yes Bank in India.

On May 9, Japan's Sumitomo Mitsui Banking Corporation announced that it has reached an agreement with the State Bank of India and several other financial institutions to acquire a 20% stake in India's private commercial bank Yes Bank. The acquisition price is approximately 240 billion Japanese yen. The transaction is subject to the signing of a final agreement and regulatory approval.