Yes Bank assigns Rs 48k cr stressed asset loan portfolio to JC Flowers ARC
Yes Bank has concluded assignment of the Rs 48,000-crore stressed asset loan portfolio of the bank to JC Flowers Asset Reconstruction company.
The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets.
"The bank has now concluded assignment of identified stressed loan portfolio of the bank aggregating to up to Rs 48,000 crore as on March 31, 2022 under 15:85 structure, after adjusting recoveries between 1st April 2022 to 30th November 2022," Yes Bank said in a regulatory filing on Saturday.