India’s SBI aims to sell its Yes Bank stake worth $2.2 bln by end-March, sources say

 State Bank of India (SBI), the country’s largest lender, aims to strike a deal by end-March for the sale of its 24% stake worth 184.2 billion rupees ($2.2 billion) currently in smaller rival Yes Bank (YESB.NS), opens new tab, four sources with direct knowledge said.

Japanese lender Sumitomo Mitsui Banking Corp and Dubai-based Emirates NBD (ENBD.DU), opens new tab are in advanced talks to acquire a majority stake in Yes Bank, two of these sources said. Sumitomo Mitsui is a unit of Sumitomo Mitsui Financial Group (8316.T), opens new tab, Japan’s second-biggest bank.