 "Prashant Kumar")
YES Bank, which almost collapsed two years ago from bad loans, is now on a hunt to buy stressed assets from other lenders.
A new partnership with US private-equity firm JC Flowers & Co. LLC allows it to buy soured loans of other banks, Prashant Kumar, chief executive officer of the Mumbai-based lender, said in an interview.
The so-called asset reconstruction company, that YES Bank will take a 19.99 per cent stake in, plans to hire as many as 100 people across legal, compliance and investment management over the next few months, he said.
The so-called asset reconstruction company, that YES Bank will take a 19.99 per cent stake in, plans to hire as many as 100 people across legal, compliance and investment management over the next few months, he said.
“We are trying to create a
