OREANDA-NEWS. August 25, 2008. At the meeting of the Supervisory Board of Russian Agricultural Bank First Deputy Prime-Minister Victor A. Zubkov was elected Chairman of the Supervisory Board of RAB. Minister of Agriculture Alexey V. Gordeev became Deputy Chairman of the Supervisory Board of RAB, reported the press-centre of RAB.

The Supervisory Board approved the Bank’s 1H2008 results. During the period under review the Bank achieved high growth of its key financial ratios. RAB extended loans to the total amount of RUR 138 billion, this is 20 % more as compared to 1H2007.

The Bank’s loan portfolio exceeded RUR 360 billion. In the framework of the Federal Program on Agribusiness Development 2008-2012 the Bank has concluded 74 thousand loan agreements to the total amount of RUR 115. 6 billion.

Total capital grew by 8% and reached RUR 51. 9 billion.

On the meeting the Supervisory Board approved the terms of the loans for grain purchase interventions in 2008. Its also approved opening of the representative office in Tadzhikistan.