Russian Agricultural Bank (RusAg) was first to sign an Agreement with the Ministry of Agriculture and became an authorized bank to issue unsecured consumer lending with the subsidized interest rate capped at 3 per cent p.a. This type of financing is part of the State Program ‘Integrated Development of Rural Areas’.
As at 27 March 2020, retail customer accounts at Russian Agricultural Bank (RusAg) added up to more than RUB 1.2 trillion, rising by RUB 13.6 billion in March. In 2020, retail customer accounts grew 5.1% (RUB 59.3 billion).
In 2020 Russian Agricultural Bank (RusAg) issued about 100,000 loans to agribusiness borrowers in the amount of RUB 251 billion, which is up 8.5% y-o-y. Of this amount over RUB 34 billion have been allocated to SMEs. RUB 47 billon have been issued to agribusiness for long maturities, RUB 204 billion for short terms.
Russian Agricultural Bank (RusAg, the Group) announces its audited consolidated financial results for FY 2019 according to International Financial Reporting Standards (IFRS).
While on a working trip to the Volgograd region Denis Konstantinov, Deputy Chairman of the Board at Russian Agricultural Bank (RusAg), held a meeting with Oleg Grebenkin, Owner of ‘NewBio’ LLC. Denis Konstantinov said that RusAg intends to increase support for agribusinesses operating in the Volgograd region.
A client of Russian Agricultural Bank (RusAg) - ‘Dedinovo’ agribusiness company - has become another successful project under the agribusiness acceleration program. The company has signed a contract stipulating regular supplies of potatoes to Moldova.
Russian Agricultural Bank (RusAg) received a prestigious STP Award in recognition of operational excellence in US Dollars payments conducted in compliance with international rules on straight through processing (STP). The Bank’s achievements in this area have been recognized by one of the key RusAg’s partners in US Dollar payments processing – J.P. Morgan Chase Bank, N.A., USA.
In 2019, Russian Agricultural Bank (RusAg) extended RUB 1.3 billion in loans to Russian agribusiness which is 11% more as compared to 2018. Around RUB 352 billion were issued in long term loans, which is a 33% growth versus 2018. Total loans outstanding to agribusiness added up to RUB 1.4 billion, expanding 13.1% during 2019.
Russian Agricultural Bank (RusAg) analyzed segment-wise EBITDA margins in Russian agribusiness based on the results of 2019 and pinpointed the factors that will possibly support the continued output growth. In 2019, agribusiness EBITDA margin came in at 20%, outperforming the results of 2018 (19%).
Boris Listov, CEO and Chairman of the Board of Russian Agricultural Bank, held a working meeting with Alexander Brechalov, Head of Udmurtia. The parties discussed results of cooperation and plans to develop the regional agribusiness industry, including support of farmers’ initiatives, prospects of the Integrated Rural Areas Development Program and building up the region’s export capacity.