KUALA LUMPUR: The Malaysia Building Society Bhd (MBSB) has signed a RM1bil Recourse Securitisation of Personal Financing Receivables and Conventional Mortgage Assets agreement with Cagamas.
MBSB said it would utilise the funds to further grow its retail assets, Personal Financing-i and Home Mortgage.
“With this securitisation exercise, the company is able to strengthen its funding programme, matching the tenure of its assets to liabilities,” it said in a statement yesterday.
Meanwhile, MBSB reported a 142% hike in pre-tax profit for the first nine-months ended Sept 30, 2011 to RM327.1mil, due to an increase in retail assets, with the Personal Financing-i segment growing about 98% in terms of gross loans.
