4/10/2024, 9:04:03 am

MUFG rejoins Yes Bank race, submits initial bid for a majority stake

Japan’s Mitsubishi UFJ Financial Group (MUFG), the world’s second-largest bank holding company, has re-entered the contest to acquire a majority stake in Yes Bank, India’s sixth-largest private bank by assets, according to people aware of the matter. This comes a month after MUFG’s $2 billion proposal to invest in HDB Financial, the non-banking finance arm of HDFC bank.