Q3FY22 numbers would reflect selling of NPAs, says Yes Bank CEO Prashant Kumar

Yes Bank

Yes Bank's CEO and MD Prashant Kumar said that by November end, the numbers would reflect the selling of the bank's NPAs.

In an interview with CNBC TV18, Kumar spoke about the whole process of selling its Rs 48,000-crore NPA portfolio to JC Flowers ARC for Rs 11,183 crore.

Talking about when would the process end, he said that in 60 days, which is by November end, the whole assignment should get over. He then clarified that this means the numbers would reflect in Q2FY22.

He said that the acquisition of a 19.99 percent stake in JC Flowers is subject to required regulatory approvals.

Yes Bank entered another restructuring scheme in June 2020 which will end in March 2023. Speaking of what will happen when the bank will exit the scheme, he said, "On March 13, 2023, when we exit the scheme, the locking of shares will be unlocked, which means all our stock will be available for a normal transaction like any other bank and that would be the end of the restructuring scheme."

Speaking of this quarter, he said banks are facing pressure in terms of mobilisation of liquidity because of the liquidity deficit. "So I think everybody is trying to get more and more deposit and at the same time continue to have control on the cost of deposit," he said.

Kumar spoke briefly about Dish TV. "We believe this is a very valuable company and the real value of the company would be reflected once the issue around corporate governance is taken care of," he observed.