Yes Bank Ltd. has been paid ₹780 million by a trust towards its stressed asset recovery process under its Security Receipts Portfolio. The transaction, according to a regulatory filing, is a part of the bank's plan to sell its non-performing asset (NPA) portfolio, which had been previously transferred to JC Flowers Asset Reconstruction Company.
Key Highlights:
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₹780 million from a single trust, as an addition to asset recovery efforts.
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One of the NPA resolution strategies of Yes Bank, following the sale of ₹48,000 crore stressed assets to JC Flowers ARC.
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Precedent comparable transactions are ₹429 million and ₹230 million redemptions, which reflect steady recovery progress.
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Stock movement: Shares of Yes Bank also made moderate movement, showing investor faith in settlement of assets.
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This new redemption reiterates the path of Yes Bank towards increasing asset quality, financial health, and long-term growth.
Source: Economic Times | LiveMint | Moneycontrol