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AHML, VTB close RUB 48.2 bln MBS Factory transaction

On December 7, AHML and JSC Housing Finance Bank completed a transaction for the securitization of VTB24's mortgage portfolio by issuing MBS securities in the amount of RUB 48.2 billion under AHML's MBS Factory program (MSB stands for mortgage-backed securities), AHML informed.

The issue is a new securitization instrument (single tranche mortgage securities with a surety from AHML). The bonds are intended to be sold to a wide pool of investors. In the short term, the bank will offer securities to the market.

Each bond has a face value of RUB 1,000. The coupon rate is fixed at 11.5% p.a.

JSC The Agency for Housing Mortgage Lending / AHML was established in 1997 subject to a decision of the Government of the Russian Federation. In 2015, AHML gave rise to Russia's single housing market development institution whose mission is to provide comprehensive support to the national housing sector and to increase affordability of housing for the population. The AHML focuses on the following priorities: development of the market of mortgage lending and mortgage securities, development of the rental market involving, among others, collective investment schemes, provision of developers with land resources and integrated development of territories.

IFRS net profit of AHML for H1 2017 increased by 16.2% to RUB 6.7 billion. Return on equity in January-June 2017 reached 9.5% (on an annualized basis) compared with 8.5% for the 6-month period in 2016. As of June 30, 2017, the portfolio of mortgage assets amounted to RUB 316.7 billion increasing by 16.4% for the 6-month period.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB's banks in Austria, Germany and France are operating as parts of the European sub-holding led by VTB Bank (Austria). Besides, the group has subsidiary and affiliate banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one VTB branch in China and India, two VTB Capital Plc branches in Singapore and Dubai.

The principal shareholder is the Russian Federation represented by the Federal Agency for State Property Management and the Ministry of Finance holding 60.9348% of the group's voting shares or 45.01% of the authorized capital (92.23% including the Deposit Insurance Agency's shareholding).

IFRS net profit of VTB for ten months of 2017 increased 2.4 times to RUB 90.9 billion from RUB 38 billion for the same period in 2016.

"AK&M", 07.12.2017 14:20


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