by Amruth Sundarkumar | Sep 12, 2022 | Banks, India
Yes Bank is expected to approve JC Flowers as the buyer for its $6bn distressed loan portfolio, as per sources. The lender’s credit committee is likely to meet on September 15 to give approval to the private equity company. Another bidder, a consortium led by private...
by Amruth Sundarkumar | Aug 5, 2022 | Banks, Credit Ratings
Moody’s upgraded Yes Bank from B2 to Ba3, assigning a stable outlook to the Indian bank. The rationale for the upgrade is the improvement of Yes Bank’s credit profile as it plans an equity capital raise from Carlyle and Advent. The deal will fill the bank’s coffers...
by Amruth Sundarkumar | Aug 1, 2022 | Banks, India
Yes Bank is selling equity stakes of up to 10% each to global private equity investors Carlyle and Advent International. The lender is raising equity capital of INR 89bn ($1.1bn) through a combination of INR 51bn ($640mn) in equity shares at INR 13.7/share and INR...
by Amruth Sundarkumar | Jul 25, 2022 | Banks, India
ICICI Bank reported a 55% YoY increase in consolidated net profits to INR 73.9bn ($930mn) during the quarter ended June. The bank’s total income rose to INR 281.3bn ($3.5bn), up 11.3% YoY. Retail loans, Rural loans, and Business banking loan portfolios grew by...
by Amruth Sundarkumar | Jul 18, 2022 | Banks, India
Yes Bank has signed a binding term sheet to partner with US-based JCF ARC LLC and JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) for the sale of its identified stressed loans or NPAs. JC Flowers will be the base bidder for a proposed sale of an...
