YES Bank eyes own asset reconstruction company, invites EoIs from investors

In April, the RBI formed a 6-member panel headed by Sudarshan Sen, former ED, to carry out a comprehensive review of the working of ARCs in the financial sector ecosystem

Private sector lender YES Bank is looking to set up its own asset reconstruction company (ARC) and has invited an expression of interest (EoI) from prospective investors who could partner with it in setting up this entity.

Through its process advisor, Ernst & Young, YES Bank has called for EoIs from investors with strong financial capability and possessing substantial experience in the distressed asset space.

In a newspaper advertisement, the bank said, “The prospective partners will be the lead partner/ sponsor of the ARC, with the bank as the other significant partner/sponsor, for conducting the business of the asset reconstruction