Russian Agricultural Bank increased share of concessional lending by 69% in 1H 2021

In 1H 2021 RusAg’s loans to agribusiness amounted to RUB 848.2 billion (+14.3% compared to the result of 1H 2020), of which RUB 318.1 billion, or 37.5%, were issued at a preferential rate. This year, the volume of concessional lending increased by 69.3%, and its share in issues - by 12.2 p.p.

In 1H 2021, RusAg increased lending to large business by 13.8% to RUB 623.6 billion, SME lending by 3.5% to RUB 137.0 billion in comparison with the same period of the last year. Loans to residents of rural areas increased by 42.7% to RUB 87.5 billion.

Lending is used both for investment purposes (construction, renovation and reconstruction of vegetable storage facilities and livestock complexes, acquisition of equipment and animals) and for working capital financing. The increase in funding is largely due to the increased availability of loan funds for farmers.

"Russian Agricultural Bank invests in the development of agribusiness throughout the whole country - from small farms to largest agroholdings operating on the principle “from the field to the counter”. The Bank’s share in agricultural lending is more than 30% of the entire Russian market; the loan portfolio has already exceeded RUB 1.8 trillion. At the same time, RusAg launches an integrated approach: we do not only constantly increase loan book, including concessional lending, but also promote our digital services, support agricultural education and new technologies in agribusiness. All this factors allow our customers to use the best products and services on the market, actively introduce advanced agricultural technologies that ensure breakthrough growth of agribusiness," said Boris Listov, Chairman of the Management Board at RusAg.

Loans for seasonal works increased by 45% and amounted to RUB 323.5 billion in 1H 2021 in comparison with the same period of the last year, 70% of seasonal works financing was provided on preferential terms.

The Bank's share in financing of seasonal works increased from 70% to 77%. In a number of regions, the only bank that finances this direction is RusAg. Timely support of field works is the basis for the entire success of the agricultural season.

In 1H 2021 RusAg supported export-oriented customers by increasing loans to them by 47% that amounted to RUB 258.5 billion. Total number of export-oriented customers increased by 58 and amounted to 1,400 companies.