VTB Group boasts an extensive global presence. VTB Group operates in Western Europe, Asia and Africa, as well as in the CIS countries. VTB Group members include the dedicated retail bank VTB24 and the investment bank VTB Capital plc.
partnerships with leading global investment banks, rating agencies, and audit and consulting companies.
The VTB Group team responsible for refinancing and securitisation has gained unique expertise both in the domestic market and on the global capital markets. In 2008 the team was recognised as the “Best securitisation house in the CIS” by EMEA Finance and in 2009 as the “Best securitisation house in the CIS” and the “Best structured finance deal in EMEA” by EMEA Finance (Bank VTB24’s US$470 million RBMS deal).
Projects implemented by the team include innovative transactions involving Russian assets, including:
- the securitisation of SOYUZ Bank’s car loan portfolio — the first securitisation of Russian assets;
- the securitisation of Vneshtorgbank’s mortgage portfolio — the first mortgage securitisation in Russia;
- the securitisation of City Mortgage Bank’s mortgage portfolio — the first Russian experience of securitisation involving a warehouse facility;
- after the 2008 financial crisis, initial transactions for the securitisation of Bank VTB24’s rouble and currency mortgage loan portfolios were arranged, as well as the issuing of mortgage-backed securities of a number of partner banks, in particular, Vozrozhdenie and DeltaCredit;
- in 2012, jointly with the Bank of Tokyo-Mitsubishi UFG, the cross-border securitisation of Bank VTB24’s car loan portfolio was arranged for the first time since the 2008 financial crisis.
VTB participates in Housing Mortgage Lending Agency programmes to facilitate the purchase of mortgage-backed bonds.
VTB Group has the necessary infrastructure and skills, and is ready to assume a central role in arranging the refinancing of assets, the securitisation and batch support of securitisation transactions as a settlement agent, servicing bank and specialised depositary for mortgage collateral.
Arranging Individual Securitisation Deals
For banks with considerable asset portfolios, VTB offers services in arranging the refinancing and securitisation of their portfolios. Securitisation enables such banks to enhance their investor base and issue new types of collateralised bonds, improve the term structure of their balances, raise long-term resources, gain capital relief and improve ROE.
Batch Support for Securitisation Transactions
VTB Group has unique experience in the maintenance of securitisation as a settlement agent, servicing bank and specialised depositary for mortgage collateral. We are the only bank in the Russian banking system implementing this in full, from transactions to cash flow management, with a high level of automatisation. Batch format services give customers significant benefits ranging from cost savings to minimising any operational risks.
Acting as Master Servicer and Back-up Servicer
As VTB boasts higher ratings from international rating agencies than other Russian banks, the participation of VTB or its subsidiaries in securitisation deals as Master Servicer or Back-up Servicer offers an advantage in the process of assigning ratings to issued securities.