26 November 2012, Monday, 18:39

Supervisory Board of Russian Agricultural Bank approved the development strategy till 2020

author: Bashinform News Agency

On November 21, the Supervisory Board of Russian Agricultural Bank (RusAg) approved the new strategy of the bank development for 2013-2020. The meeting of the Supervisory Board was attended by Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, Nikolay Fyodorov, the Minister of Agriculture, and Olga Dergunova, the Deputy Minister of Economic Development – the Head of the Federal Agency for State Property Management.

«RusAg as well as leading agricultural banks worldwide will specilise on servicing agricultural business and related sectors, small and medium companies and individuals. The achievement of  strategic goals by the Bank will garantee the appropriate level of financial efficiency and tasks accomplishment defined by the State Program on Agricultural Business Development until 2020», Arkady Dvorkovich said.

The approved strategy defines the targeted levels of the bank key performance indicators till 2020. Loan portfolio will exceed 3 trillion roubles, along with the corporate loans amounting to about 2 trillion roubels. The bank forecasts its total equity to reach 400 billion roubles by 2020.

According to Dmitry Pumpyansky, the Chairman of the Supervisory Board, the Russian Agricultural Bank has a unique potential. Being a universal commercial bank, RusAg plays the key role in the development of rural areas providing a sustainable growth of agricultural business and related sectors. This priority will remain unchanged in the long term. The share of agricultural business, including fishery and forestry sectors and rural population, as well as related sectors will remain at 70% or more in the bank loan portfolio up to the year 2020.

RusAg will continue to work towards the expansion of its product range, tailoring it to the different needs of customers, including ready-made solutions, project financing, investment lending, extending loans under the WTO «green basket» (innovations and infrastructure) and products adapted to the WTO «yellow basket» requirements and other.

«I strongly believe that the approved strategy will allow the Russian Agricultural Bank to  provide effective financial support to agricultural business industry according to the objectives determined by the state», Dmitry Patrushev said.