Lending for agricultural works in Russia up 29.3% in 2020

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AK&M 14 January 2021 11:59

In 2020. lending for seasonal field works in Russia amounted to RUB 699.6 billion growing by 29.3% year-on-year, Russia's Ministry of Agriculture informed.

In particular, Rosselkhozbank (RusAg) increased lending for agricultural works by 31.7% to RUB 501.9 billion, Sberbank of Russia by 23.6% to RUB 197.68 billion.

Joint stock company Russian Agricultural Bank (JSC Rosselkhozbank / RusAg, tax number: 7725114488) was founded in March 2000 to provide services to agricultural companies. Today, the bank is among the top ten banks of the country. Rosselkhozbank ranks second in the branch network comprising more than 1,500 departments countrywide, more than half of them in minor towns and villages. The bank's representative offices are operating in Belarus, Kazakhstan, Tajikistan, Azerbaijan and Armenia. The sole shareholder of Rosselhozbank is the Russian Federation represented by the Federal Agency for State Property Management.

Sberbank of Russia (tax number: 7707083893) is the largest bank in Russia, Central and Eastern Europe. The Bank is the principal lender to the Russian economy and has the highest share in the market of deposits. The bank's authorized capital is RUB 67.76 billion. It consists of 21,586,948 thousand common shares and 1 billion preferred shares with a face value of 3 rubles each. The Russian Federation represented by the Ministry of Finance owns 52.32% of Sberbank's total voting shares.