OREANDA-NEWS. October 13, 2010. The Supervisory Board of Russian Agricultural Bank met to discuss the Bank’s performance in January-September 2010, reported the press-centre of RusAg.  

Throughout this period RusAg’s loan portfolio has continued to grow and reached RUB 713.3 billion, as of October 1, 2010. The priority in the lending policy was given to loans for purchase of agricultural machinery and equipment, microloans for personal household plots and loans to consumer cooperatives. The Bank plans to further increase the range of lending products, to decrease timeframe for loan applications analysis and to ensure higher quality of customer service.

During 3Q2010, RusAg continued to decrease its interest rates. In September 2010, the interest rates for long-term loans were further cut by 1 percentage point on the average, for short-term loans – by 1-3 percentage points in order to ensure availability of affordable credit resources for agricultural producers and rural population.

The agenda of the meeting also comprised such items as approval of the members and chairmen of the Supervisory Board committees. Audit Committee was headed by Alexander I. Sobol, Deputy Chairman of the Management Board of JSC Gazprombank. Strategic Planning and Development Committee was headed by Tatyana B. Kulkina, Head of the Secretariat of the First Deputy Prime Minister of the Russian Federation. HR and Remuneration Committee was headed by Anatoly B. Ballo, Deputy Chairman of Vnesheconombank.