We are privileged to welcome SMBC as our largest shareholder and Board participant," said Prashant Kumar, Managing Director and Chief Executive Officer, Yes Bank. "With the combined sponsorship of SMBC, backed by SMFG's global scale, and SBI, India's most trusted bank, Yes Bank is uniquely positioned to grow stronger, expand Japan-India business flows, and deliver long-term value for all stakeholders," he added. The bank also revealed it had been assigned AA- ratings, which is the highest level since March 2020, by four domestic credit rating agencies including CRISIL, ICRA, India Ratings, and CARE. On Wednesday, SBI announced the completion of the divestment of about 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corporation of Japan for ₹8,888.97 crore.