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 1,280 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 Q1 2020 RusAg’s gross loan portfolio went up 4.7% (+RUB 116.4 billion) reaching RUB 2.587 trillion. Corporate loans (including loans to customers measured at fair value through profit or loss) rose by 5.6% (+RUB 112 billion) from YE2019 and totaled RUB 2.110 trillion. Retail loans grew by 1.0% (+RUB 4.5 billion) to RUB 478 billion from YE2019.
Deposits and customer accounts in 3M 2020 grew by 11.4% (+RUB 282.4 billion) and added up to RUB 2.769 trillion. Corporate customer accounts came in at RUB 1.525 billion, expanding by 17.8% (+RUB 230.7 billion). Retail deposits and customer accounts grew 4.3% (+RUB 51.7 billion) from YE2019 and amounted to RUB 1.243 trillion.
The share of customer funding in the Group’s total liabilities stood at 83.3%. The Group’s loan-to-deposit (LTD) ratio stood at 94% as at 31 March 2020.
In Q1 2020 net interest and fee and commission income grew by 11% to RUB 23.7 billion from RUB 21.4 billion year-on-year. Net interest margin stayed flat year-on-year. In the reporting period, the Group’s Cost/income ratio (operating expenses divided by net operating income (before allowance for credit losses)) stood at 57%.
In Q1 2020 the Group earned a net profit of RUB 618 million.
The Group’s equity amounted to RUB 191.4 billion as at 31 March 2020.
Russian Agricultural Bank is among top ten banks of the Russian Federation and ranked No. 224 among Top-1000 banks globally in terms of Tier 1 capital according to the July 2020 issue of “The Banker” magazine.
Source: IFRS Financial Statements as of March 31, 2020
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