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Bank Aleksandrovsky expands car loan portfolio

PJSC Bank Aleksandrovsky said Dec. 9 that it acquired a car loan portfolio from AO Zauber Bank as part of its strategy to increase the value of quality, high-yield assets.

The lender did not disclose the financial details of the transaction but said the value of its retail loan book reached over 370 million Russian rubles after the deal, a more than tenfold increase since the beginning of 2016.

The value of the acquired portfolio amounts to over 100 million rubles, Vedomosti reported Dec. 9. The lender purchased a 235.3 million ruble car loan portfolio from LLC iMoneyBank in July, noting after the transaction that it had plans to bring the value of its car loan book to 1 billion rubles via acquisitions and organic growth.

As of Dec. 9, US$1 was equivalent to 62.69 Russian rubles.