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Amount of mortgage loans in Russia up 1.3 times in January-October 2013

In January-October 2013, the amount of mortgage loans granted in Russia increased 1.3-fold to RUB 1.042 trillion, according to the Agency for Housing Mortgage Lending's research note.

639,005 mortgage loans were granted for three quarters 2013 (+17% year-on-year).

81,678 mortgage loans in the amount of RUB 136.2 billion were provided in October 2013 alone. Their number increased 1,2 times, their total amount 1.3 times year-on-year.

The mortgage market growth was driven by a slow but steady decline in interest rates in the second and third quarters of 2013. Reaching a peak of 12.9% in March, the monthly rates moved down starting the second quarter. The Benefiting from stronger liquidity positions and lower funding costs compared with 2012, almost all the leading mortgage market players offered cheaper mortgage lending opportunities, AHML emphasizes.

In October 2013, average monthly mortgage rates saw a marked decline (0.6 p.p. against the peak registered in March) to 12.3%. As a result, October was the first month in 2013 with mortgage rates below what they had been in the same month in 2012 (12.4%).

Average weighted rates on the mortgage loans in January-October 2013 (year-to-date) were 12.6%, a bit higher than the average monthly rate, factoring in the high mortgage rates in the first quarter of the year.

The total mortgage portfolio of the banks has exceeded RUB 2.48 trillion and is still growing. For the last 12 months, the mortgage portfolio increased by RUB 598 billion (31.8% of the portfolio estimated as of November 1, 2012).

OJSC Agency for Housing Mortgage Lending / AHML (tax number: 7729355614) was established in 1997. AHML's mission is to contribute to the development of the federal housing mortgage lending system in Russia. The agency's standards are employed by operators in 78 subjects of the Russian Federation. 100% of the company's shares belong to the state.

IFRS net profit of the AHML group for 9 months 2013 grew by 10% year-on-yearto RUB 6.13 billion. Assets increased by 8% to RUB 320.401 billion.

RAS net profit of AHML for 9 months 2013 grew by 4.4% to RUB 6.453 billion from RUB 6.178 billion for the same period last year. Revenue grew by 10.7% to RUB 35.725 billion from RUB 32.253 billion, sales profit by 23% to RUB 9.193 billion from RUB 7.476 billion, pre-tax profit by 4.75% to RUB 7.896 billion from RUB 7.537 billion

"AK&M", 10.12.2013


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