OREANDA-NEWS. March 11, 2009. Chairman of the Board and CEO of Russian Agricultural Bank Yuri V. Trushin held an extended meeting of the Management Board of Russian Agricultural Bank with regional branches directors, reported the press-centre of RAB.

On the meeting the Management Board approved annual results of the head office and regional branches of the Bank – business plan for 2008 was successfully implemented.

Throughout 2008 the Bank’s loan portfolio has grown in accordance with the business plan by almost 60% and reached RUR 466 billion. The volume of loans extended totaled RUR 335 billion, including 1Q2008 – RUR 59 billion, 2Q2008 – RUR 80 billion, 3Q2008 – RUR 92 billion, and 4Q2008 – RUR 103 billion. Over RUR 255 billion were allocated in 2008 in line with the Federal Program on Agribusiness Development 2008-2012.

RAB reached substantial results in its operations with retail clients. Retail loan portfolio in January 2009 amounted to RUR 58 billion, total number of loans extended to individuals reached 203 thousand. Retail deposits grew by 92% and reached RUR 44 billion.

 The Management Board made a point of RAB activity on financing of grain purchase and commodity interventions. Over 7 million tons of grain were already purchased with active support of Russian Agricultural Bank. In May 2009 RAB plans to promote further its activities in this area and to introduce financing of milk-powder purchase and commodity interventions.

In 2008 RAB further expanded its regional branch network: two branches, in Chelyabinsk and Chukotka, and 152 additional offices were opened during the year. The Bank’s regional branch network now includes 78 regional branches and 1,414 additional offices and covers the whole territory of the Russian Federation. In the near future RAB intends to open representative offices in Mongolia, Belarus, Tajikistan and Kazakhstan.