Carlyle-Backed Yes Bank on Turnaround Stressed Assets Hunt (2)

Yes Bank Ltd., the Indian bank that 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% stake in, plans to hire as many as 100 people across legal, compliance and investment management over the next few months, he said.

Prashant Kumar

Photographer Dhiraj Singh/Bloomberg

“We ...