In 2019, Russian Agricultural Bank (RusAg) extended RUB 1.3 billion in loans to Russian agribusiness which is 11% more as compared to 2018. Around RUB 352 billion were issued in long term loans, which is a 33% growth versus 2018. Total loans outstanding to agribusiness added up to RUB 1.4 billion, expanding 13.1% during 2019.
Russian Agricultural Bank (RusAg) analyzed segment-wise EBITDA margins in Russian agribusiness based on the results of 2019 and pinpointed the factors that will possibly support the continued output growth. In 2019, agribusiness EBITDA margin came in at 20%, outperforming the results of 2018 (19%).
Boris Listov, CEO and Chairman of the Board of Russian Agricultural Bank, held a working meeting with Alexander Brechalov, Head of Udmurtia. The parties discussed results of cooperation and plans to develop the regional agribusiness industry, including support of farmers’ initiatives, prospects of the Integrated Rural Areas Development Program and building up the region’s export capacity.
In 2019, Russian Agricultural Bank’s (RusAg) earned RUB 4.3 billion under Russian accounting standards (RAS), almost doubling its profits as compared to 2018.
In 2019, Russian Agricultural Bank (RusAg) issued more than RUB 138 billion to agricultural producers for seasonal works, which is a 15% growth as compared to 2018. The loans are provided under the subsidized lending program with the interest rate capped at 5% per annum.
In 2019 Russian Agricultural Bank (RusAg) issued about RUB 59 billion to poultry meat exporters which is more than double the amount disbursed in 2018. Overall, in the past year the Bank provided about RUB 72 billion to poultry breeding enterprises, a growth of 65% vs. 2018. It is worth mentioning that in monetary terms Russian poultry meat exports have also surged 65% up to USD 310 million. In volume terms, exports, mostly with high value added, have risen 10% and exceeded 200,000 tonnes.
Development of the Russian agribusiness and foodstuffs exports became a central theme at the 2020 Gaidar Forum. Maxim Lyubomudrov, Deputy Chairman of the Board of Russian Agricultural Bank (RusAg), emphasized that the Bank’s strategy is aligned with the objectives and tasks set forth by the National Priority Project ‘International Cooperation and Exports’.
Russian Agricultural Bank (RusAg), the core financial institution for Russian agribusiness, announced it is fully ready to implement the program for subsidized mortgage lending in rural areas that comes into force on 1 January 2020.
Russian Agricultural Bank’s (RusAg’s) retail interest-bearing accounts have shown a stable growth over 2019. In Q3 2019 retail interest-bearing accounts expanded more than 60%.
On 26 December 2019, Russian Agricultural Bank (RusAg) successfully placed Series С01Е-01 perpetual subordinated bonds worth Euro 150 million. The issue was allocated by a closed subscription among qualified investors under the subordinated bonds program. The face value of 1 bond is 150 thousand Euros. The bonds were marketed through the Bank’s retail POS, and its partners operating widespread brokerage channels.