In 2020 Russian Agricultural Bank (RusAg) extended RUB 148.4 billion in loans to export-oriented agribusiness companies which is a 72% growth year-on-year. As at 1 June 2020 RusAg’s loan book to export-oriented agribusiness companies reached RUB 291.3 billion. The number of such clients serviced by the Bank totaled 1,251.
RusAg’s clients account for about 25% of Russian agribusiness exports. The Bank the full range of services in raising export finance, structuring foreign trade deals, carrying out international settlements, receiving guarantees under foreign trade contracts and FX operations.
“Today we consistently develop cooperation with agribusiness exporters and support the entry of agricultural producers to international markets. We prioritize efficient lending to this segment and create most favourable conditions for implementing projects in foreign trade. In H1 2020 alone the number of export-oriented companies serviced at the Bank grew 8%”, Kirill Levin, First Deputy Chairman of the Board at RusAg, said.
Also in 2020 RusAg has introduced new tariff plans: the first one is designed for export-oriented agribusiness companies, the second one - companies engaging in cross-border trade. The ‘Foreign trade’ tariff plan enables exporters to open and maintain RUB and FX bank accounts, use all kinds of services available via the remote bank, carry out 30 money transfers in roubles, FX transfers in the equivalent of RUB 2 million per month. Moreover, RusAg offers a 20% discount for its services as the foreign currency control agent.
The tariff plan for export-oriented companies in agribusiness comprises the same product offering, with a 50% discount for services of the foreign currency control agent.