OREANDA-NEWS.  November 30, 2012. The Supervisory Board of Russian Agricultural Bank (RusAg) has approved the new Strategy of the Bank’s Development for 2013-2020. The meeting of the Supervisory Board was attended by Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, Nikolai Fyodorov, Minister of Agriculture, and Olga Dergunova, Deputy Minister of Economic Development — Head of the Federal Agency for State Property Management, reported the press-centre of RusAg.   

"Today we have approved the development strategy of Russian Agricultural Bank. RusAg as well as leading agricultural banks worldwide will focus on servicing agribusiness and related sectors, small and medium sized enterprises and individuals. The achievement of the strategic goals by the Bank will ensure the appropriate level of financial efficiency and accomplishment of tasks defined by the State Program on Agribusiness Development until 2020", — said Arkady Dvorkovich.

The adopted strategy sets forth the targeted levels of the Bank’s key performance indicators till 2020. Loan portfolio will exceed RUB 3 trillion, with the corporate loans amounting to about RUB 2 trillion. The Bank forecasts its total equity to reach RUB 400 billion by 2020.

According to Dmitry Pumpyansky, Chairman of the Supervisory Board, Russian Agricultural Bank has a unique potential. Being a universal commercial bank, RusAg plays the key role in the development of rural areas providing a sustainable growth of agribusiness and related sectors. This priority will remain unchanged in the long term. The share of agribusiness, including fishery and forestry sectors and rural population, as well as related sectors in the Bank`s loan portfolio will be maintained at 70% or more up to the year 2020.

RusAg will continue to work towards the expansion of its product range, tailoring it to the different needs of customers, including ready-made solutions, project financing, investment lending, extending loans under the WTO "green basket" (innovations and infrastructure) and products adapted to the WTO "yellow basket" requirements and other.

"I strongly believe that the adopted strategy will allow Russian Agricultural Bank to further provide effective financial support to agribusiness industry in line with the objectives determined by the state", — Dmitry Patrushev, Chairman of the Board of Russian Agricultural Bank said.