In 2020, Russian Agricultural Bank (RusAg, the Bank) allocated over RUB 260 billion to support small and medium-sized agribusiness companies, which is 44% higher than in the previous year. At the same time, the Bank issued RUB 92 billion to small farms at a preferential rate of no more than 5% in accordance with the Resolution of the Government of the Russian Federation No. 1528.
In 2020, Russian Agricultural Bank (RusAg, the Bank) increased its financial support to agribusiness clients by 24% year-on-year to more than RUB 1.6 trillion.
Russian Agricultural Bank (RusAg, the Bank) received the J.P. Morgan Bank award for high quality of currency transfers in 2020. The Quality Recognition Award is bestowed to the Bank for the second year in a row for the high level of standards for processing interbank transfers in US dollars in accordance with international rules for end-to-end automated payment processing (STP).
Website of the ecosystem of digital services for farmers “Svoye Fermerstvo”, developed by the Center for the Development of Financial Technologies of Russian Agricultural Bank (RusAg, the Bank), was recognized as the winner of the MobileWebAward Competition 2020 in the category “Best Mobile B2B Website”.
On 2 December 2020, Russian Agricultural Bank (RusAg, the Bank) and the Russian National Committee of the International Chamber of Commerce – ICC Russia held a joint online conference on “Agribusiness and International Trade: Export Opportunities in 2021”. The experts discussed trends that ensure the development of exports of agricultural products.
The Russian government will provide Russian Agricultural Bank (RusAg, the Bank) with an additional capital of RUB 10.5 billion by acquiring an additional issue of the Bank’s shares. The funds received by the Bank will be used to expand lending to the agricultural sector and export of agricultural products within the framework of the State Program on Agribusiness Development and Regulation of Agricultural Products, Raw Materials and Food Markets, as well as the International Cooperation and Export National Project.
Ecosystem of Russian Agricultural Bank (RusAg, the Bank) “Svoye Fermerstvo” for the digitalization of small and medium-sized farms has become one of the winners of the prestigious international innovation competition Gartner Eye on Innovation Award in the category “Financial Services 2020”. It became the first project from Russia to win the final of the award for its entire existence.
In 10M 2020, the share of overdue debt in the loan portfolio of Russian Agricultural Bank (RusAg, the Bank) decreased from 8% to 6.1% (-RUB 24.6 billion) to RUB 163.4 billion, follows from the Bank’s financial statements in accordance with Russian accounting standards (RAS).
By the end of 2020, supplies of Russian soybeans to foreign markets may grow by more than 70% compared to last year’s export volumes and exceed 1.5 million tons, forecasts the Center for Industry Expertise of Russian Agricultural Bank (RusAg, the Bank).
Russian Agricultural Bank Group (RusAg, the Group) has announced its interim condensed consolidated financial results for 9M 2020 according to International Financial Reporting Standards (IFRS).