OREANDA-NEWS. November 10, 2009. In 2009, RusAg’s loan portfolio showed resilient growth in compliance with management plans. As of October, 2009, total loan portfolio of Russian Agricultural Bank reached RUR 600 billion. In 2009, the Bank has extended loans totaling RUR 300 billion – 28% growth as compared to YE2008 result, reported the press-centre of RusAg.

Despite financial turbulence RusAg continuously shows positive operations result. The Bank’s profit before taxes amounted to RUR 1.6 billion. Net profit for the period reached RUR 387 million.

Due to its ongoing stability RusAg is a reliable partner for its clients. As of October 1, 2009, corporate and individual deposits exceeded RUR 230 billion.

The Bank has sound loan portfolio quality. As of October, 2009, overdue loans accounted for 2.9% of RusAg’s loan portfolio.

The growth rates of the Bank’s loan portfolio, assets, capital and funding base are above the average level in the banking system of Russia. Today, Russian Agricultural Bank maintains strong position among four largest banks of the Russian Federation.

In 2010, RusAg’s loan portfolio is expected to grow by 30% to RUR 850 billion. The Bank will perform all necessary efforts to maintain its superior results along all of its business lines.