JSC DOM.RF Russia Housing & Urban Development Corp. plans to sell a portfolio of corporate loans issued by its unit Bank Rossiysky Capital (PJSC), Kommersant reported March 19.
The decision to sell the corporate portfolio follows the lender's plans to specialize in mortgage lending after its takeover by Dom.RF in December 2017. The sale is planned to be carried out within three to four months, and the estimated value of the portfolio amounts to around 140 billion Russian rubles, the newspaper noted.
Dom.RF's representative said that sale negotiations were launched earlier in March and that potential buyers are conducting due diligence of the portfolio. The terms of the potential sale could be agreed in April or May.
Rossiysky Capital will keep 16.3 billion rubles worth of loans granted to real estate development companies. The planned sale is also unlikely to include retail loans, according to the newspaper.
As of March 19, US$1 was equivalent to 57.87 Russian rubles.