Yes Bank has received approval from board of directors to sell stressed assets worth around Rs 48,000 crore to JC Flowers ARC, which has turned out to be the sole bidder for the portfolio. JC Flowers ARC had in July this year emerged as the base bidder for the proposed sale of the identified stressed loan book of Yes Bank aggregating up to Rs 48,000 crore. The bank will now proceed towards negotiating definitive agreements.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
