The quality of securitized mortgage loan portfolios at Russian banks deteriorated a little in the fourth quarter of 2016, updated indexes from Moody's Investors Service show.
As the agency reported on Tuesday, 90+ NPLs in the banks' ruble portfolios accounted for 1.8% of the current balance in the total portfolio vs. 1.7% in September 2016. The cumulative default rate rose from September's 3.9% (the initial amount of the total portfolio) to 4.1% in December.
The balance of debt under Moody's-rated issues of Russian mortgage loans stood at $3.05 bln in December 2016, or down 0.5% y-o-y. Meanwhile, in terms of rubles outstanding debt (under 38 issues of ruble-denominated loans) was cut by 8% y-o-y to Rub 190.03 bln, the agency said.
