OREANDA-NEWS. April 28, 2012. Management Board of Russian Agricultural Bank (RusAg) met to discuss the Bank’s performance in 2011 and plans for the current period. In 2012, the Bank plans to finance at least 70% of the total volume of lending for seasonal field works in Russia, and to increase its loan portfolio by RUB 146 billion, reported the press-centre of RusAg.

Summarizing the results of 2011, Chairman of the Board and CEO Dmitry N. Patrushev noted that the Bank achieved its main goal — provided a full-scale financial support to the agricultural industry. Within 2011, RusAg extended loans for the total amount of RUB 409 billion under the State Program on Agribusiness Development, which makes a 24% growth against 2010.

Russian Agricultural Bank fulfilled all the main targets of its business plan for 2011: the Bank’s loan portfolio grew by 30% and amounted to RUB 950 billion, the volume of attracted customer funds — by 59% up to RUB 877 billion.

Mr. Patrushev underlines that the aim for the current year is to increase the loan portfolio by 15% to RUB 1.1 trillion. A special attention will be given to the development of the regional branch network: the Bank will raise the quality of service and increase the number of points of sale. RusAg plans the territorial coverage to expand almost to 100% by 2015.