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).
“Along with the growth of the quality of RusAg’s loan portfolio, consistent improvement of the efficiency of overdue debt settlement and shortening the collection period allowed us to significantly reduce the share of overdue debts and secure it at a level below the average for the banking system, which is 6.9%”, said Kirill Levin, First Deputy Chairman of the Board at RusAg.
In 2019, according to the Bank’s financial statements under RAS, the amount of overdue debt in RusAg’s loan portfolio decreased by RUB 37.9 billion from RUB 225.9 billion at the beginning of the year to RUB 188.0 billion by the end of the year.
Note: Financial data is under RAS