Development of the Russian agribusiness and foodstuffs exports became a central theme at the 2020 Gaidar Forum. Maxim Lyubomudrov, Deputy Chairman of the Board of Russian Agricultural Bank (RusAg), emphasized that the Bank’s strategy is aligned with the objectives and tasks set forth by the National Priority Project ‘International Cooperation and Exports’.
Russian Agricultural Bank (RusAg), the core financial institution for Russian agribusiness, announced it is fully ready to implement the program for subsidized mortgage lending in rural areas that comes into force on 1 January 2020.
Russian Agricultural Bank’s (RusAg’s) retail interest-bearing accounts have shown a stable growth over 2019. In Q3 2019 retail interest-bearing accounts expanded more than 60%.
On 26 December 2019, Russian Agricultural Bank (RusAg) successfully placed Series С01Е-01 perpetual subordinated bonds worth Euro 150 million. The issue was allocated by a closed subscription among qualified investors under the subordinated bonds program. The face value of 1 bond is 150 thousand Euros. The bonds were marketed through the Bank’s retail POS, and its partners operating widespread brokerage channels.
Russian Agricultural Bank’s (RusAg’s) subsidiaries started exporting their products to foreign markets. ‘Agrotorg Tovarkovo’ LLC and ‘Raevsakhar’ LLC are part of ‘Agrotorg Trading House’ LLC, a RusAg subsidiary which manages the Bank’s assets in agribusiness.
In the framework of the new procedure for subsidized lending stipulating a commitment to grow output Russian Agricultural Bank’s (RusAg's) Rostov Branch issued a loan to ASTON Group of companies, the Russian largest foodstuffs and ingredients producer, the leading processor of oilseeds.
In 11M 2019, Russian Agricultural Bank (RusAg) doubled its net profit earning RUB 10.4 billion under Russian accounting standards. The part of profits eligible for inclusion in the Bank’s capital under the Bank of Russia requirements added up to RUB 3.4 billion.
In the framework of the Agreement Russian Agricultural Bank (RusAg) will take part in considering potential financing of projects in various spheres of social and economic development of the Krasnoyarsk region, the Republic of Khakassia and the Republic of Tyva.
AFG National Agro Holding has added Jordan to the list of its export destinations in the hope of growing rice exports to this country to 5,000 tonnes. Rice grown in the Kuban region is currently exported to 20 countries of the world.
Russian Agricultural Bank (RusAg) prioritizes support and services for clients engaged in foreign economic activity. In addition to existing services the Bank has automated notifications on foreign currency control documents to simplify compliance with Russian foreign exchange laws.