According to a RusAg forecast, agribusiness in the Russian Far East will be enjoying a higher margin compared to elsewhere in the country over the next five to seven years, driven by low competition among domestic producers and opportunities for import substitution and expansion into the Asian markets. Far Eastern Federal District’s export lead will help broaden the range of such export items as crustaceans, soybeans and fish, said Dmitry Zhilyakov, Head of Industrial and Technological Expertise at RusAg, speaking at an Eastern Economic Forum session titled The Far Eastern Agricultural Complex: A Driver of Growth or a Missed Opportunity?
RusAg and the Government of Kuzbass, represented by Chairman of the Board Boris Listov and Governor Sergey Tsivilev respectively, signed a cooperation agreement at the Eastern Economic Forum.
The portfolio of funds raised for retail deposits and current accounts of Russian Agricultural Bank (RusAg, the Bank) as of 1 August 2021 has exceeded RUB 1.33 trillion. In terms of the size of the passive portfolio, RusAg is consistently among the TOP 5 Russian banks.
Ecosystem of Russian Agricultural Bank (RusAg, the Bank) Svoe Fermerstvo (My Farming) has won the FINAWARD-2021 in the nomination “Solution for a marketplace or B2B ecosystem”.
Expert RA has raised its insurer financial reliability rating on RSHB-Insurance to ‘ruAA+’. The outlook assigned to the rating is ‘stable’. Previously, the company was rated ‘ruAA / stable’. The upgrade of RSHB-Insurance rating reflects the stable financial performance over a long period of time against the background of the business growth and strengthening of the company’s position in the insurance market.
In January-May 2021, Russia doubled honey exports in comparison with the same period of 2020 to 1,443 tons, and the number of destinations increased from 17 to 31.
Russian Agricultural Bank (RusAg, the Bank) announces its interim condensed consolidated financial results for 6M 2021 according to International Financial Reporting Standards (IFRS).
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.
Since July 20, 2021, Russian Agricultural Bank launched support measures for victims of floods in Krasnodar. Borrowers who suffered losses may receive a delay in loan repayment.
China has become the largest buyer of Russian beef as mentioned in the quarterly meat market report of RusAg’s Centre for Industry Expertise. According to the results of the first quarter of 2021, beef supplies to China increased 20 times, and share in total Russian beef export exceeded 55%.