OREANDA-NEWS.  April 14, 2014. Russian Agricultural Bank (RusAg) announces its audited consolidated financial results for the year 2013 according to International Financial Reporting Standards (IFRS).

In 2013, RusAg demonstrated positive dynamics of its main business indicators. The Bank’s loan portfolio increased by RUB 207 billion (18%) and amounted to RUB 1.375 trillion as of 31 December 2013. Corporate loan portfolio grew by RUB 156 billion (16%) up to RUB 1.125 billion, retail loan portfolio — by RUB 51 billion (26%) and reached RUB 251 billion. Customer accounts increased RUB 165 billion (29.5%) and totaled RUB 722 billion, with retail customer accounts rising by RUB 61 billion up to RUB 249 billion (32%).

Net interest income of the Bank went up 16% year-on-year and totaled RUB 65 billion, net fee and commission income — 33% up to RUB 8 billion.

Profit of Russian Agricultural Bank for the year 2013 made up RUB 729 million.

RusAg`s assets increased by RUB 242 billion (17%) up to RUB 1.671 trillion as of 31 December 2013. The Bank`s equity grew by RUB 30 billion (15%) and reached RUB 228 billion as of 31 December 2013 following a capital increase of RUB 30 billion in December 2013 in the form of an additional share issue.

“The funds allocated by the state to the Bank’s capital are multiplied by resources attracted in financial markets and extended for increasing agribusiness credit support, said Dmitry Patrushev, Chairman of the Board and CEO. – While providing comprehensive support to agricultural producers, the Bank offers a complete range of high quality services to population in small towns and rural areas. Demand for these services is evidenced by significant loan and deposit growth. In 2013, Russian Agricultural Bank has accomplished all tasks of effective agribusiness support, set by the state, and demonstrated good financial results.”