Carlyle-backed Yes Bank is now on a stressed assets hunt

Yes Bank agreed to sell 480 billion rupees ($5.9 billion) of a bad loan portfolio last month to JC Flowers’ ARC, a move Kumar said will help boost its profitability. The sale is a major step by the bank toward shedding the mountain of stressed loans that led to its shock rescue by India’s central bank in March 2020.

from Banking/Finance-Industry-Economic Times https://ift.tt/duCYWoZ