Rosselkhozbank re-applied for state support


Россельхозбанк вновь обратился за господдержкой

Russian agricultural Bank (Rosselkhozbank) did not have 50 billion rubles received from the state last year, and the Bank again applied for the next portion of state support.

As stated in the teleconference the Chairman of the Board of Rosselkhozbank Kirill Levin, is currently the Bank is discussing with the shareholder (the government) the ability to replenish capital. “This year we are working to increase capital… Working in different directions and with clients, and with market work on the issue of subordinated bonds, and shareholder (Rosimushchestvo)”, — quotes the newspaper “Vedomosti” top Manager.

The funds the Bank needed for two reasons: to meet the requirements of the Central Bank (the regulator gradually increases the premium to capital adequacy) and to give more credits.

It reminds Finanz, last year the state added to the capital of Rosselkhozbank to 50 billion roubles, and since 2010 — about 300 billion rubles. In the budget for 2017 was laid only 5 billion roubles that the government had planned to send to the capital of Rosselkhozbank. The remaining 45 billion the Bank received thanks to additional budget revenues.

Now the budget for the next three years of money to RAB no. Back in the fall, Levin expressed the hope that Rosselkhozbank enough received 50 billion rubles in order not to ask for help all the year 2018.

Last year Rosselkhozbank has reduced the loss of 58.9 billion to 19.5 billion rubles. The main reason for the Bank’s losses are deductions in reserves, which last year was equal to net interest income of 63 billion rubles. A year earlier they amounted to 86 billion rubles, as against 53 billion of interest income.

According to the Bank of Russia, Russian agricultural Bank, established in 2000 and is a key creditor of the APC, is in fourth place by assets among Russian lending institutions. The state owns 100% of the Bank.


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