Russian Agricultural Bank’s loan portfolio exceeded RUB 850 billion in H1 2011

Throughout H1 2011, Russian Agricultural Bank (RusAg) continued its solid performance in line with the management plans and was focused on providing agribusiness producers and rural population with available credit and financial resources.

In H1 2011, Russian Agricultural Bank’s loan portfolio grew 16% and exceeded RUB 850 billion as of July 1, 2011.

In January-June 2011, RusAg’s retail loan portfolio increased by 28% and amounted to RUB 108.3 billion. Corporate loan portfolio grew 14.6% and amounted to RUB 742.5 billion as of July 1, 2011.

Compared to H1 2010, the Bank increased the volume of lending for the State Program on Agribusiness Development implementation by 25%, including seasonal field works — more than 20% growth.

Customer deposits showed 29.3% growth in January-June 2011. The volume of corporate deposits increased by 36.2% — to RUB 597.9 billion, retail deposits by 5.2% — to RUB 131.7 billion.

In H1 2011, RusAg’s profit before tax amounted to RUB 3.3 billion, which is a 76% growth as compared to H1 2010.The Bank’s net profit increased by 45% and totaled RUB 1.3 billion as of July 1, 2011.