Russian Agricultural Bank (RusAg) is a 100% state-owned bank regulated by the Bank of Russia. RusAg is one of the leading financial institutions providing lending support to Russian agribusiness.
Russian Agricultural Bank has a unique mandate to act as the State agent to implement the Government’s financial policy in the domestic agribusiness sector. RusAg plays a key role in the implementation of the State Program on Agribusiness Development. The Bank’s development role is based on its good knowledge of the Russian agribusiness sector. RusAg offers a large product range oriented on the target market segment and its wide regional coverage.
Today, Russian Agricultural Bank’s network of 66 regional branches and over 1,200 additional offices covers the whole territory of the Russian Federation and is the second largest regional branch network in the country. RusAg’s local presence provides a significant marketing advantage and access to regional client base.
Russian Agricultural Bank provides banking services nationwide to over 6 million clients. The Bank’s policy is to make the whole range of banking services available to its clients both in urban and rural areas.
In Q1 2019 the Group’s gross loan portfolio went up 2.8% (+RUB 65 billion) reaching RUB 2.355 trillion. The growth was driven by corporate loans (including loans to customers measured at fair value through profit or loss) which rose by 3.4% (+RUB 63.2 billion) from YE2018 and totaled RUB 1.919 trillion. Retail loans amounted to RUB 436 billion at 31 March 2019.
As at 31 March 2019 RusAg’s assets amounted to RUB 3.264 trillion, a rise of RUB 149.5 billion from YE2018 (+4.8%).
In Q1 2019 customer accounts and deposits grew RUB 216.5 billion (+8.9%) totaling RUB 2.638 trillion. Corporate customer accounts went up by RUB 184.6 billion (+13.3%) to RUB 1.571 trillion. Retail customer accounts and deposits rose RUB 31.9 billion (+3.1%) reaching RUB 1.067 billion. The Group’s current and settlement accounts rose 8.2% during the reporting period.
The share of customer funding in the Group’s total liabilities amounted to 84.7% versus 81.7% at YE2018. The loan-to-deposit ratio as at 31 March 2019 stood at 89.3%.
Net interest income amounted to RUB 16.7 billion for Q1 2019. Net fee and commission income was flat y-o-y (RUB 4.7 billion). In the reporting period, the Group’s Cost/income ratio (operating expenses divided by net operating income (before allowance for credit losses)) stood at 52.6%.
The Group recorded a net profit of RUB 553 million for Q1 2019.
Russian Agricultural Bank is among top ten banks of the Russian Federation and ranked No. 330 among Top-1000 banks globally in terms of Tier 1 capital according to the July 2018 issue of «The Banker» magazine.
Source: IFRS Financial Statements as of March 31, 2019