In January-August 2013, the amount of mortgage loans granted in Russia increased 1.28-fold to RUB 784.9 billion, according to a statement made by the Agency for Housing Mortgage Lending (AHML) referring to the Bank of Russia.
485.43 thousand mortgage loans were granted (+16% year-on-year).
The mortgage lending market profile in August reveales somewhat slower lending growth rates, despite the ongoing decrease in monthly loan rates: Compared with August 2012, the number of loans increased by 16%, the amount of loans by 28% year-on-year, against 29% and 38%, respectively, in July).
The mortgage lending was spurred by a slight reduction in the average monthly rate on ruble-denominated loans (reaching 12.4%, i.e. 0.1 p.p. below the average rate in July 2013, although still 0.1 p.p. above the rate in August 2012.
Besides, the market benefited from the fast-paced development of the so-called "social" mortgage programs aimed at subsidized households, particularly the "Military Mortgage" program resulting in a pickup of demand.
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 OJSC AHML for 2012 increased by 4.5% to RUB 8.325 billion from RUB 7.967 billion in 2011. Interest income increased by 37% to RUB 5.122 billion from RUB 3.735 billion, net interest income by 13.3% to RUB 14.626 billion from RUB 12.907 billion, pre-tax profit by 6% to RUB 10.313 billion from RUB 9.719 billion.
According to the information and retrieval system DataCapital, RAS net profit of AHML for H1 2013 grew by 5.06% to RUB 4.422 billion, revenue increased by 7.2% to RUB 24.093 billion from RUB 22.470 billion.
"AK&M", 04.10.2013 13:45