Yes Bank‘s shares remained muted after the company informed the exchanges of the receipt of ₹454 crore pertaining to the sale of the NPA portfolio to JC Flowers Asset Reconstruction Company (JC Flowers ARC).

What Happened: The company said that it received an aggregate amount of ₹454 crores from two separate trusts, ₹361 crores and ₹93 crores respectively as part of the security receipts portfolio, for the sale.

In December 2022, the company assigned its ₹48,000-crore stressed asset loan portfolio to JC Flowers ARC. The bank had previously said that JC Flowers ARC was selected as the winner of the Swiss Challenge process for the sale of its designated portfolio of stressed assets.

“The Bank has now concluded assignment of the identified stressed loan portfolio of the bank aggregating to up to ₹48,000 crore as of March 31, 2022, under 15:85 structure, after adjusting recoveries between 1st April 2022 to 30th November 2022,” Yes Bank said in its statement.

See Also: Morgan Stanley Remains Bullish On Trent, Shares Surge

Yes Bank reported a 18.3% year-on-year increase in its deposits for the September quarter which stood at ₹2.77 lakh crore, compared with ₹2.34 lakh crore during the same period last year. Loan growth stood at 13.1% year-on-year, reaching ₹2.36 lakh crore for the September quarter. 

Shares of the company have declined 7% in the past month and 65 in the year so far. Last month Benzinga spoke to technical analysts who said they see it falling even further.

Price Action: Yes Bank was trading flat at ₹21.29 on Tuesday morning.

Read Next: RITES Shares Muted After Receiving $5.4M Order From African Rail Firm