Foreign lenders lured by stake sales in Indian banks, face tighter rules

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Foreign lenders lured by stake sales in Indian banks, face tighter rules - Business Standard

Quick Summary:

SMBC has been in advanced talks with Yes Bank and its lead investor State Bank of India over the past few weeks for the majority stake acquisition, said three sources with knowledge of the talks.

The rare opportunity for foreign banks to take controlling stakes in a market dominated by state-owned banks comes as existing investors in Yes Bank and IDBI Bank look to divest their holdings.

Demand for bank credit, which includes corporate loans and mortgages, is growing at twice the expected economic growth pace and gross bad loans in the domestic banking sector are currently at multi-year lows of 2.8 per cent of total assets.