MUFG AIMS FOR YES BANK STAKE ACQUISITION

After the country's largest bank, SBI ☐ rescued the beleaguered YES Bank four years back from the brink of collapse, the latter has been searching for a new owner.

- RAJIV KAPOOR

There have been many global financial entities and potential bidders which have shown interest in YES Bank such as Japan's Mizuho Bank, Emirates NBD and Japan's Mitsubishi UFJ Financial Group (MUFG).

The latter is the second largest bank holding company globally and very eager to acquire a controlling stake in the banking firm MUFG's had earlier put in an investment proposal bid of $2 billion for HDB Financial which is the nonbanking finance subsidiary of HDFC Bank. When the proposal was rejected by HDB Financial, MUFG has been reportedly engaged in serious discussion for a buyout of YES Bank.