The Analytical Credit Rating Agency (ACRA, the Agency) has affirmed the credit rating of Russian Agricultural Bank (RusAg, the Bank), outlook Stable, and its senior unsecured debt ratings that are equivalent to that of the Bank.
The structure of Russian agricultural exports has been transformed over the last year to mirror stronger external demand for domestically produced meat, sugar and oilseeds in addition to grains and fish, according to RusAg’s Centre for Industry Expertise.
RusAg and Epinduo, the largest Chinese marketplace for Russian food products, have signed an agreement that enables Russian agribusinesses to penetrate the Chinese market. It was signed with OOO Epinduo, Epinduo’s official representative in Russia.
Alexey Tsydenov, Head of the Republic of Buryatia, and Boris Listov, RusAg’s Chairman of the Board and CEO, have agreed to ramp up support for Buryatia’s major businesses, farmers and rural tourism. Buryatia’s Minister for Agriculture and Food Galsan Dareyev presented a project for the construction of a 20,000-tonne-capacity potato / vegetable combined storage. For this project, the company has developed a business plan, design documentation and received an environmental assessment certificate.
Russian Agricultural Bank (RusAg, the Group) announces its audited consolidated financial results for FY 2020 according to International Financial Reporting Standards (IFRS).
Most sugar producers in Russia have either already diversified their product range by adding on granulated beet pulp or are planning to do so soon. Consistently high external demand for beet pulp helps domestic companies absorb fluctuations on the sugar market. In the coming years, China will be playing an ever increasing role as an importer of granulated beet pulp from Russia as it is expected to consume beet pulp produced by as much as a third of Russian mills, according to the RusAg Centre for Industry Expertise.
In its first ESG (Environmental, Social, and Governance) ranking of Russian banks, rating agency RAEX-Europe has placed RusAg in the top five of ESG-compliant Russian financial institutions. This ranking is part of RAEX-Europe’s project to collect, systematise and analyse ESG data for companies on the post-Soviet landscape and assess their performance against 200 indicators in the three key fields of Environmental (environmental impact), Social (staff and local communities), and Governance (information disclosure and management).
In 2020, Russian Agricultural Bank (RusAg, the Bank) allocated over RUB 260 billion to support small and medium-sized agribusiness companies, which is 44% higher than in the previous year. At the same time, the Bank issued RUB 92 billion to small farms at a preferential rate of no more than 5% in accordance with the Resolution of the Government of the Russian Federation No. 1528.
In 2020, Russian Agricultural Bank (RusAg, the Bank) increased its financial support to agribusiness clients by 24% year-on-year to more than RUB 1.6 trillion.
Russian Agricultural Bank (RusAg, the Bank) received the J.P. Morgan Bank award for high quality of currency transfers in 2020. The Quality Recognition Award is bestowed to the Bank for the second year in a row for the high level of standards for processing interbank transfers in US dollars in accordance with international rules for end-to-end automated payment processing (STP).