OREANDA-NEWS. September 30, 2013. Russian Agricultural Bank (RusAg) has published its Interim Condensed Consolidated Financial Statements with Independent Auditor’s Report on Review for the period ended 30 June 2013.

During the reporting period, RusAg further strengthened its key financial and operating results. For the first six months of 2013 gross loan portfolio grew 8.8% up to RUB 1 271.3 billion. In 1H 2013 loans to corporate clients increased 8.4 % and amounted to RUB 1 049.9 billion.

Loans to individuals rose 10.9% and added up to RUB 221.4 billion. Total assets at 30 June 2013 grew 7.9% up to RUB 1 541.2 billion. Customer accounts totaled RUB 678.1 billion, a 21.6% increase as compared to 31 December 2012. Net profit for 1H 2013 amounted to RUB 603 million.

Expansion of lending and development of fee-based banking products contributed to further income growth. Net interest income as compared to 1H 2012 rose 12.5% and amounted to RUB 31.3 billion, net fee and commission income grew by 52.7% to RUB 3.8 billion.

The Bank will continue its work aimed at fulfilling the priority task of building up national agribusiness capacity with special focus on key industry development directions: investment projects implementation, small businesses fostering, agricultural machinery upgrade, and seasonal field works financing.