sumitomo mitsui banking corporation

State Bank of India and other lenders are selling a 20% stake in Yes Bank to Japan's sumitomo mitsui banking corporation for Rs 13,483 crore. This marks the largest cross-border investment in Indian banking, making SMBC the largest shareholder. The sale follows Yes Bank's 2020 rescue, with SBI retaining just over 10% stake after the deal.

Sumitomo Mitsui Banking Corp (SMBC) is nearing a deal to acquire a major stake in Yes Bank, potentially triggering an open offer for an additional 26% stake and making SMBC the largest shareholder. This move follows Yes Bank's 2020 rescue and would be India's largest M&A deal for SMBC.

Warren Buffett, the 94-year-old "Oracle of Omaha," announced his retirement as CEO of Berkshire Hathaway, naming Greg Abel as his successor at year's end. Buffett's departure marks the end of an era after 54 years of leading the company to immense financial success. Despite market challenges, Buffett's net worth reached $168.

Warren Buffett, the legendary investor, will retire as CEO of Berkshire Hathaway at the end of 2025, passing the reins to Greg Abel. This announcement, made at the annual shareholders' meeting, marks a significant transition after Buffett's 54-year tenure.

Mahindra & Mahindra Ltd. has announced its strategic move to acquire approximately 59% stake in SML Isuzu for Rs 555 crore, purchasing shares at Rs 650 each. This acquisition includes Sumitomo Corporation's 44% stake and Isuzu Motors' 15% stake, triggering a mandatory open offer for public shareholders.

SBI experienced a slowdown in loan growth due to corporate debt repayments via equity funding, particularly from PSUs like NTPC. Despite strong SME, agriculture, and retail loan growth, corporate loan prepayments impacted overall advances, which rose 12%. SBI anticipates corporate credit demand from infrastructure and renewable energy sectors, targeting 12% growth in that segment.

Following a report on Attapur's severe mosquito problem, GHMC deployed entomologists to clean the Musi riverbanks. They removed litter, conducted anti-larval operations, and sprayed disinfectants to eliminate breeding grounds. Residents of Laxmi Nagar and Nalanda Nagar had complained about the unbearable mosquito menace caused by stagnant water and garbage, hindering outdoor activities.

Following the Supreme Court's rejection of JSW's acquisition of Bhushan Power & Steel due to irregularities, lenders, including Punjab National Bank, are set to decide on their next steps. PNB, having received approximately Rs 3,000 crore from the BPSL transaction, reported a significant jump in net profit, driven by business growth and recoveries. The bank plans further expansion with new branches and staff recruitment.

Bank of India's net profit soared 82% to Rs 2,626 crore in Q4 2025, fueled by treasury gains and recoveries from written-off accounts. The bank targets 12-13% loan growth and 11-12% deposit growth for fiscal year 2025-26, despite a NIM decrease. The bank is also focusing on cybersecurity and ATM cash availability, in line with regulatory guidelines.

Punjab National Bank (PNB) witnessed a significant surge in profitability, reporting a 52% increase in net profit to Rs 4,567 crore for the March quarter of FY25. The bank's asset quality improved, with gross NPAs declining to 3.95%. Bolstered by strong performance, the board recommended a dividend and approved raising up to Rs 8,000 crore through Basel III-compliant bonds.