In 2016 Russian Agricultural Bank JSC (RusAg) increased by 62% the volume of lending to the agro-industrial complex of Russia, providing a record 1.03 trillion rubles to agrarians. Of these, 260 billion rubles was allocated to finance seasonal work, which is 37% more than in 2015. The Bank's share in the seasonal loan market exceeded 75%, an increase of 4 percentage points.
Last year, the credit portfolio of RusAg JSC in the agro-industrial sector was 1.2 trillion rubles. In general, the Bank has strengthened leadership in this sector and ensured compliance with all obligations to expand support for the industry. In 2017, RusAg JSC will continue to increase the amount spent on agricultural products and services, including under the new program of concessional lending to farmers at a rate of no more than 5% per annum. At present, the Bank is ready to implement this mechanism.
Reference: Russian Agricultural Bank JSC is the basis of the national credit and financial system for servicing the Russian agro-industrial complex. The bank was founded in 2000 and today is the key creditor of the country's agro-industrial complex, it is one of the largest and most stable banks in the country in terms of assets and capital. Also, RusAg JSC is the leader in the reliability rating of the largest Russian banks. 100% of the voting shares of the Bank are owned by the Russian Federation.
