Yes Bank has announced that it has received ₹429 crore from a trust within the Security Receipts Portfolio linked to its loan portfolio sale to J.C. Flower Asset Reconstruction Private Limited (JC Flower ARC). This disclosure was made in line with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The bank initially sold its non-performing asset (NPA) portfolio to JC Flower ARC in December 2022 as part of its ongoing efforts to clean up its balance sheet. The recent receipt, which exceeds the underlying carrying value of the trust, meets the materiality threshold under SEBI regulations and has been disclosed accordingly.
Yes Bank has confirmed that the information has been shared with the stock exchanges and is also available on its official website. This development marks a significant inflow for the bank, reinforcing its financial recovery efforts and bolstering investor sentiment.
