Profile

Russian Agricultural Bank

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 diversified product range designed to satisfy the demand of the target market segment and to match its wide regional coverage. The Bank also engages in other Government sustainability programs focused on social aspects.

Today, Russian Agricultural Bank’s network of 66 regional branches and over 1,260 additional offices covers over 60% of territory of the Russian Federation and is among top 3 largest branch networks 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 6.6 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 2019 the Group’s gross loan portfolio went up 7.9% (+RUB 180.8 billion) reaching RUB 2.471 trillion. Corporate loans (including loans to customers measured at fair value through profit or loss) rose by 7.7% (+RUB 142 billion) from YE2018 and totaled RUB 1.998 trillion. Retail loans grew by 8.9% (+RUB 38.8 billion) to RUB 473 billion from YE2018.

As at 31 December 2019 the Group’s assets totaled RUB 3.216 trillion. In 2019 the Group’s assets grew 3.2% (+RUB 101 billion). Deposits and customer accounts in 2019 grew by 2.7% (+RUB 65.1 billion) and added up to RUB 2.486 trillion. As at YE 2019, corporate customer accounts (excluding state and public entities) came in at RUB 911.5 billion, expanding by 15% (+RUB 118.9 billion). To maintain a stable and diversified funding mix the Bank has significantly reduced funding attracted from state and public organizations down to RUB 383.1 billion. Retail deposits and customer accounts grew 15.1% (+RUB 156.6 billion) from YE2018 and amounted to RUB 1.191 trillion. Current and settlement accounts grew 21% up to RUB 342 billion.

Net interest and fee and commission income grew by 10.1% to RUB 97.9 billion from RUB 88.9 billion for the previous year. Net interest margin stayed flat year-on-year.

Net profit for the year grew 2.6x times over 2018 up to more than RUB 4.0 billion.

The Group’s equity amounted to 199.3 billion as compared to RUB 151.7 billion at YE2018 (+31.3%).

Russian Agricultural Bank is among top ten banks of the Russian Federation and ranked No. 248 among Top-1000 banks globally in terms of Tier 1 capital according to the July 2019 issue of “The Banker” magazine.  

Source: IFRS Financial Statements as of December 31, 2019