OREANDA-NEWS. October 13, 2010. Throughout 3Q2010, Russian Agricultural Bank continued its solid performance in line with the management plans and was focused on providing agribusiness producers and rural population with available credit and financial resources, reported the press-centre of RusAg.  

As of October 1, 2010, Russian Agricultural Bank’s loan portfolio amounted to RUB 713.3 billion. During 3Q2010, the loan portfolio has grown by 21.7%.

In July-September 2010, the amount of deposits attracted by the Bank grew from RUB 872.4 billion to RUB 877.1 billion, including retail deposits which increased from RUB 100.5 billion to RUB 109 billion.

The net profit of Russian Agricultural Bank reached RUB 1.2 billion, as of October 1, 2010. By the end of 1H2010, the Bank’s net profit totaled RUB 897 million. Such an increase was driven by the growth of RusAg operations and cost optimization.

In 3Q2010, the share of non-performing loans in the Bank’s loan portfolio grew by 1 percentage point and reached 5.4%, which is below average the average level in the banking system of Russia.

Russian Agricultural Bank is well positioned to maintain its strong results along all of its business lines and to seize new opportunities for sustainable development of agribusiness lending.