OREANDA-NEWS. November 05, 2008. Third quarter 2008 results were approved during the meeting of the Supervisory Board of Russian Agricultural Bank and headed by Victor A. Zubkov, Chairman of Supervisory Board of Russian Agricultural Bank and First Deputy Prime-Minister of the Russian Federation, reported the press-centre of Russian Agricultural Bank.

In Q3 2008 RAB maintained reasonable growth rates in all business areas. RAB continued successful implementation of the Federal Program on Agribusiness Development 2008-2012.

RAB’s total loan portfolio reached RUR 414.1 billion by October 1, 2008. It grew by 41.5% (RUR 121.5 billion) from the beginning of 2008.

RAB continued development of the retail business. It has executed over 154 thousand loan agreements to the total amount of RUR 22.8 billion. Particular growth was achieved in lending to farmers - RAB extended RUR 15.7 billion to private farm holders. Retail loan portfolio reached RUR 54.9 billion. The Bank’s own capital grew by 76% and amounted to RUR 84.4 billion. Working assets grew by 49.4% and amounted to RUR 673.9 billion.

Supervisory Board approved RAB joining the Association of Farmers and Agricultural Cooperatives of the Russian Federation and the Canada Eurasia Russia Business Association.