In 5M 2020 Russian Agricultural Bank earned RUB 3 billion under RAS

In 5M 2020, Russian Agricultural Bank’s (RusAg) earned RUB 3 billion under Russian accounting standards (RAS). Net interest and fee and commission income grew 3.2% year-on-year up to RUB 36.2 billion on the back of lending expansion.

In the reporting period, the Bank grew its total loan book by 4.1% up to RUB 2.435 trillion. Corporate loan book amounted to RUB 1.968 trillion expanding by 4.7%, retail loans grew 1.3% up to RUB 467 billion.

Retail customer accounts reached RUB 1.2 trillion, rising by 3% during 5M 2020.

“Our top priority is to ensure uninterrupted lending to Russian agribusiness. The Bank’s wide product offering and active engagement in subsidized lending programs helps us support both large enterprises and small producers amid current economic instability. RusAg will continue to show upward dynamics in all key indicators,” Kirill Levin, First Deputy Chairman of the Board of RusAg, said.

Over the reporting period, the Bank disbursed RUB 628.9 billion in loans to agrarians (+30.7% year-on-year). Strongest growth was seen in loans to export-oriented agribusiness companies (+72% year-on-year - up to RUB 148.4 billion), subsidized loans to agribusiness (+ 39.3% - up to RUB 138.6 billion), seasonal field works financing (+26.7% - up to RUB 201.9 billion).

In 5M 2020 RusAg’s loan book to agribusiness expanded 6.6% reaching RUB 1,463.9 billion. Loans to export-oriented agribusiness companies grew 28.6% up to RUB 290.3 billion.