Russian Agricultural Bank’s mission is to implement the Russian government’s financial policy in agribusiness by:
On April 7, 2016, the Supervisory Board of Russian Agricultural Bank (RusAg) approved an updated version of its Strategy through 2020 (hereinafter - the Strategy).
The Strategy has been updated to reflect the significant changes taking place in 2014-2015. It is based on macroeconomic forecasts for a period through 2020 and includes new tasks and obligations for the Bank related to comprehensive support of the Russian economy. Delivering the Strategy and the business model of a universal commercial bank will help RusAg to meet state objectives in agribusiness and other priority sectors, ensure the Bank’s sustainable development and competitiveness, comply with regulatory requirements and reach profitability targets.
The Bank’s management considers two scenarios: baseline and conservative. In the base case scenario, the external environment for both the Bank and its clients does not deteriorate compared to January 2016. The conservative scenario factors in further macroeconomic deterioration, higher credit and market risks as well as threats to the banking business.
Strategic tasks and objectives
The Strategy sets forth three core objectives for the Bank through 2020:
With a view to these strategic goals, RusAg will grow lending to agribusiness, other priority sectors and population. It also intends to increase the share of income generated by transaction and other fee-based products as well as sales by its subsidiaries. It will continue to streamline its operating model, enhance business processes efficiency, upgrade IT systems and sales / service channels through a well-balanced development of direct and remote points of access and mobile and Internet banking.
The Bank intends to grow in all business lines: large, mid-sized, small, micro and retail. To each segment the Bank offers sustainable service quality and takes into account specifics and needs of clients when designing its product range.