Russian Agricultural Bank (RusAg) and Autonomous Non-Commercial Organization “The Far East Investment and Export Agency” signed a Cooperation agreement aimed at creating favourable conditions for implementation of investment projects in the Far Eastern Federal District.
The Ministry of Agriculture of the Russian Federation and Russian Agricultural Bank (RusAg) signed an agreement to join efforts for implementation of subsidized agribusiness lending program. The recently adopted procedure for subsidies provision stipulates that in 2017 partial compensations of interest rate will be allocated directly to authorized credit institutions. This innovation will enable banks to extend loans at the maximum interest rate of 5 percent p.a. and will significantly streamline the process of making state support available to agrarians.
On 21 December 2016, while on a working visit to China the representatives of Russian Agricultural Bank signed an agreement with Harbin Bank on opening a correspondent account in Chinese Yuan (CNY). This agreement marked a major joint step forward for Russian and Chinese financial institutions on the way towards increasing the use of domestic currencies for bilateral trade settlement. This task has been earlier set by Russian and Chinese Governments.
Russian Agricultural Bank (RusAg) received Cbonds Awards-2016 in the category ‘Best Primary Corporate Bond Deal’. The awarding ceremony took place at XIV Russian bond congress.
Russian Agricultural Bank (RusAg) plans to show a positive financial result in 2016 as compared to a net loss of RUB 75.2 billion in 2015.
Since the launch of the State Program on Agribusiness Development in 2008 Russian Agricultural Bank has provided about RUB 4.2 trillion to support agribusiness. As of 1 November 2016, the Bank’s loan book to this segment exceeded RUB 1.1 trillion.
Russian Agricultural Bank (the Group, RusAg) announces its interim condensed consolidated financial results for 9M 2016 under International Financial Reporting Standards (IFRS).
Russian Agricultural Bank became the winner in the category “The bank offering the most attractive terms for customers” as part of the quality of life award presented by the Financial University under the Government of the Russian Federation. The award was established in 2016 and is aimed at encouraging financial and other institutions to increase the quality of customer services. To determine the winners the organizers used results of social surveys evaluating the quality of life and financial services.
Russian Agricultural Bank (RusAg) acted as a sponsor of the II World grain forum that was held pursuant to a Government resolution on 18-19 November in Sochi.
On November 16-17, 2016, Russian Agricultural Bank (RusAg) held a meeting with participation of the Heads of branches. The Bank’s management discussed preliminary results for 2016 and tasks for 2017. The meeting was attended by Arkady Dvorkovich, Deputy Prime Minister of Russia, and Alexander Tkachev, Minister of Agriculture of Russia, Chairman of the Supervisory Board of RusAg.