Agricultural Investments

April 4, 17:52 Source: APK-Inform Views: 83

Credit portfolio of Rosselhozbank increased by 18% during 2013

In 2013 Russian Agricultural Bank (Rosselhozbank)* demonstrated positive dynamics of the main indicators of its activity. As of December 31, 2013 the credit portfolio increased by 207 bln RUR to 1.375 trln RUR . The volume of corporate loans increased by 156 bln RUR and totaled to 1.125 trln RUR. RusAg net interest income increased by 16% to 65 bln RUR compared to 2012. Net commission income up by 33 % to 8 bln RUR. After-tax profit totaled to 729 mln RUR — according to RusAg press-service.

 

"Funds allocated to the state capital multiplied with the cash resources attracted by the banks on the financial markets and are directed to increase credit support for agriculture, - said chairman of RusAg Dmitry Patrushev. - Following the results of 2013 the Agricultural Bank fulfilled all tasks on effective agribusiness support, set by the state, and showed good financial results. "

 

*International rating agencies Moody’s and Fitch assigned Russian Agricultural Bank long-term credit ratings at Baa3 and BBB-, accordingly. The Bank’s ratings are of investment grade.

 

Source: agroinvestor.ru

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