Yes Bank is looking to sell its entire NPA portfolio of Rs 32,344 crore to ARCs or other potential investors.
Sources informed that Yes Bank's offer to ARCs will be to recover at least 15 per cent amount i.e. Rs 5,000 crore upfront. The balance 10 per cent amount i.e. Rs 3,000 crore may be potential recovery by way of deferred payments.
Yes Bank has Gross NPA (GNPA) of Rs 32,344 crore. Yes Bank has already made provisions for Rs 24,476 crore which represents 76 per cent of GNPA. GNPA on books post such provision, is now only Rs 7,868 crore.
Sources said NPA sale proposal has been approved by the Board of Yes Bank, to ensure immediate recovery and enable Bank to clean-up its balance sheet.
The Yes Bank board has appointed E&Y for the same. E&Y to invite bids from ARCs shortly.
The entire NPA portfolio to be sold at 25 per cent or Rs 8,000 crore.