Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC – Private lender Yes Bank has approved the sale of stressed loans worth Rs 48,000 crores to JC Flowers Asset Reconstruction after receiving no bids to challenge. Yes Bank’s board of directors approved JC Flowers’ declaration as the winner of the Swiss Challenge method.
- The ARC will have to pay ₹1,677 crore within 60 days.
- Yes Bank’s gross NPA was 13.4% in June 2022, compared to 15.6% during the corresponding period of last year.
- Gross NPA was ₹27,747 crores at the end of June 2022 compared to ₹28,506 crores at the end of June 2021.
About Yes Bank –
- CEO: Prashant Kumar
- Headquarters: Mumbai
- Founded: 2004
- Founders: Rana Kapoor, Ashok Kapur
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