(20 second reading) Emirates NBD, Dubai’s largest lender, is reportedly considering submitting a bid to acquire a majority stake in Yes Bank, Moneycontrol reported, citing sources. This interest follows reports on April 12 that Japan’s Mitsubishi UFJ Financial Group (MUFJ) and Sumitomo Mitsui Banking Corp. (SMBC) were also mulling bids for the troubled lender.
Private equity firms Carlyle and Advent International invested ?8,900 crore in the lender in July 2022, securing up to a 10% stake each.
Yes Bank’s share price was up 3.13% at Rs.24.70 around noon on Monday.