In 3 months of 2020 Russian Agricultural Bank (RusAg) issued RUB 394 billion to agribusiness borrowers, which is up 12% y-o-y. Loans have been disbursed to over 400 large businesses and circa 2,300 small and mid-sized businesses.
Russian Agricultural Bank (RusAg) and VEB.RF have concluded an agreement on assignment of claims worth RUB 6.2 billion under the Eurodon Group’s loans owed to VEB.RF.
In Q1 2020, Russian Agricultural Bank (RusAg) earned RUB 3.2 billion under Russian accounting standards (RAS).
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.