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Credit Card and Auto ABS Sector Credit Card and Auto ABS Sector Review Review Tõnu Pekk, EBRD Tõnu Pekk, EBRD Russian Securitisation Forum Russian Securitisation Forum New York, 10 September 2007 New York, 10 September 2007

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Page 1: Credit Card and Auto ABS Sector Review Tõnu Pekk, EBRD Russian Securitisation Forum New York, 10 September 2007

Credit Card and Auto ABS Sector Review Credit Card and Auto ABS Sector Review

Tõnu Pekk, EBRDTõnu Pekk, EBRD

Russian Securitisation ForumRussian Securitisation Forum

New York, 10 September 2007New York, 10 September 2007

Page 2: Credit Card and Auto ABS Sector Review Tõnu Pekk, EBRD Russian Securitisation Forum New York, 10 September 2007

Previous TransactionsPrevious Transactions

Auto loan and credit card receivables ABS out of Russia to date:

Credit Card and Auto ABS Sector Review

Date Transaction Asset Type Originator Amount

Jul 2005 Russian Auto Loans Finance

Auto Loans Bank Soyuz USD 49 mln

Oct 2006 Taganka Car Loan Finance

Auto Loans MDM Bank USD 403 mln

Nov 2006 Russian Car Loans

Auto Loans Russian Standard Bank

EUR 220 mln

May 2007 ROOF Russia Auto Loans Raiffeisenbank USD 392 mln

Aug 2007 Eurasia Credit Card Funding

Credit Card Receivables

Home Credit & Finance Bank

RUR 5.35 bln (USD 200 mln)

Page 3: Credit Card and Auto ABS Sector Review Tõnu Pekk, EBRD Russian Securitisation Forum New York, 10 September 2007

Main CharacteristicsMain Characteristics

Key characteristics of previous transactions:

Credit Card and Auto ABS Sector Review

Transaction AvgLoanSize ($)

AvgSeason. (m)

AvgTerm(m)

AvgAssets Yield

Avg LTV

Losses(hist.)

Russian Auto Loans Finance

14,929 7.75 35.45 9.90% 70.81% n/a

Taganka Car Loan Finance

13,360 8.40 21.60 14.63% 95.00% 4.0%

Russian Car Loans

3,733 5.15 43.11 13.50% 73.15% 9.5%

ROOF Russia 12,680 10.70 44.20 9.30% 67.21% 1.2%

Page 4: Credit Card and Auto ABS Sector Review Tõnu Pekk, EBRD Russian Securitisation Forum New York, 10 September 2007

Auto and Credit Card Market OverviewAuto and Credit Card Market OverviewCredit Card and Auto ABS Sector Review

Credit Cards:

Reached USD 3.3 bln in 2006

Amounted to 0.3% of GDP in 2006

Visa & MasterCard over-perform local brands

Auto Loans:

Reached USD 9 bln in 2006

Amounted to 0.9% of GDP in 2006

Represented 11% of total retail lending in 2006

-

2.0

4.0

6.0

8.0

10.0

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

2005 20062004USD bln % GDP

2005 20062004USD bln % GDP

-

1.0

2.0

3.0

4.0

0.0%

0.1%

0.2%

0.3%

0.4%

Page 5: Credit Card and Auto ABS Sector Review Tõnu Pekk, EBRD Russian Securitisation Forum New York, 10 September 2007

[email protected]:

+44 20 7338 6105Fax:DIRECTOR

+44 20 7338 6638Tel:Jonathan Woollett

[email protected]:

+44 20 7338 6199Fax:SENIOR BANKER

+44 20 7338 7516Tel:Tõnu Pekk

[email protected]:

+44 20 7338 6105Fax:PRINCIPAL BANKER

+44 20 7338 6718Tel:Andreea Moraru

[email protected] Email:

+44 20 7338 7163Fax:ASSOCIATE BANKER

+44 20 7338 7647Tel:Yerbolat Rakhmetov

EBRD Structured Finance & Securitisation Team

Contact DetailsContact Details