The Association of Russian banks and the Auction House of the Russian Federation have created a nationwide base of non-core property

The Association of Russian Banks (ARB) and the Auction House of the Russian Federation (AHR) has signed an agreement on cooperation, with the aim of creating a nationwide base for non-core and problematic assets held by crediting organizations, insurance and leasing companies.

The agreement was signed in July. All of the information will be concentrated on the electronic platform “All pledges” (zalog.lot-online.ru), which was created within the multi-functional electronic resource Lot-online. For ARB member banks, special conditions and tariffs have been developed to post information about problematic property.

Data on almost 2700 objects has already been published on the site, including: property complexes, land plots, objects of commercial property, apartments, stocks, equipment, machinery and transport.

“The services of the AHR may be interesting for many banks, and so we have decided to support the company’s proposal to create a single database of non-core and problematic pledged assets,” says the executive vice-president of the ARB Yury Kormosh.

“We are interested in attracting new partners for our project ‘All pledges’. This platform should unite information about problematic property of various crediting organizations, insurance and leasing companies on the territory of Russia, Ukraine and Kazakhstan. We are certain that both banks and borrowers are interested in the creation of a single database: buyers will be able to find objects that interest them more quickly, and banks will be able to sell their assets on advantageous terms as quickly as possible,” said the first deputy general director of the AHR Konstantin Raev.

The project “All pledges” was launched in December 2012, and the official opening of the platform took place in 2013. Over the course of two summer months, the project gained 36,565 unique users, and 198,670 total daily views.