OREANDA-NEWS. January 27, 2011. As of YE2010, the profit of Russian Agricultural Bank acc. to RAS before tax amounted to RUB 3.5 billion, which is a 37% growth as compared to YE2009. Taking into account events after the reporting date and results of the annual audit the Bank's financial statements for 2010 can be adjusted, reported the press-centre of Russian Agricultural Bank.

In 2010, RusAg’s loan portfolio grew by 19.7% and reached RUB 732.7 billion as of January 1, 2011. Over the past year corporate loan portfolio grew by 18.7% and totaled RUB 648.1 billion, retail portfolio increased by 27.6% – to RUB 84.6 billion.

During 2010, the volume of customer funds demonstrated an increase by RUB 80 billion and reached RUB 920 billion as of January 1, 2011.

As of January 1, 2011 the share of non-performing loans in the Bank’s loan portfolio decreased by 0.2 percentage points and reached 5.5%, which is below the average level in the banking system of Russia.

The Bank is focused on providing agribusiness producers and rural population with available credit and financial resources in the framework of implementation of the Federal Program on Agribusiness Development 2008-2012. In 2010 the Bank 6 times decreased interest rates to ensure available credit resources for agricultural enterprises.
 
In 1H2011, RusAg’s loan portfolio is expected to grow by 14.5%. The Bank will perform all necessary efforts to maintain its superior results along all of its business lines.