Russian Agricultural Bank

Russian Agricultural Bank
Native name
Россельхозбанк
Company typePublic
IndustryFinancial services
Founded2000-03-15
FounderRussian Government
Headquarters
Moscow
,
Russia
Key people
Boris Listov — Chairman of the Management Board Dmitry Patrushev — Chairman of the Supervisory Board
ServicesBanking
RevenueRUB 258 billion (2017)
RUB 41 billion (2023)
RUB 39.8 billion (2024)
Total assetsRUB 4.74 trillion (2023)
Total equityRUB 298.07 billion (2023)
OwnerFederal Agency for State Property Management (72.4%)[1]
Number of employees
34 200 (2024)
Websitewww.rshb.ru/en/

Russian Agricultural Bank (Russian: Россельхозбанк, romanized: Rosselkhozbank) is a 100% state-owned bank regulated by the Bank of Russia. RusAg provides lending support to Russian agribusiness companies.

History

Modern agribusiness production systems are capital intensive. A large portion of capital used in agribusiness is borrowed. The agrarian credit system in Russia goes back to 1882 when the first specialized banks – ‘Peasant Land Bank’ and ‘Gentry Land Bank’ – were established. During the Soviet period, about 90% of all long-term loans were extended to agribusiness.

The Russian Agricultural Bank (RusAg) was set up on March 15, 2000 under the special decree of the acting president of the Russian Federation Vladimir Putin with the mission to be the conductor of the state credit and financial policy in the agribusiness sector, to facilitate a strong performance by clients, to invest in the core businesses and technology and to be the basis of the national credit and financial system of agribusiness in the Russian Federation.

100% of RusAg’s shares are controlled by the Russian Federation acting through the Federal Agency for Managing State Property which holds the bank's issued and outstanding ordinary shares (78.66% from total share capital (31 December 2018: 77.11% from total share capital)), the Ministry of Finance of the Russian Federation which holds the bank's issued and outstanding preference shares (5.69% from total share capital (31 December 2018: 6.1% from total share capital)) and the State Corporation "Deposit Insurance Agency" which holds the bank's issued and outstanding preference shares (15.65% from total share capital (31 December 2018: 16.79% from total share capital)).

Dmitry Nikolaevich Patrushev has been the chairman of the bank's supervisory board since June 2018.[2][3][4]

In 2020, the bank launched its Svoe.Farming ecosystem,[5][6] which is designed for the comprehensive digitalization of small enterprises engaged in the agro-industrial complex, and also helps with the sale of farm products using the Svoe Rodnoye marketplace.[7][8] In 2022, the Svoe ecosystem united over 30 business services and subplatforms.[9]

Financial performance

As of January 2010, Russian Agricultural Bank ranked third among Russian banks by capital (157.7 billion rubles) and fourth by net assets (951.4 billion rubles).[10]

Since 2010, the bank has received approximately 300 billion rubles in state support. Beginning in 2014, it reported losses under IFRS; however, by the end of 2017, losses had decreased nearly threefold—from 58.9 billion to 19.5 billion rubles. In the first quarter of 2018, the bank returned to profitability, posting a net profit of 876 million rubles. As of June 1, 2018, it ranked fourth in the Russian banking system by assets, totaling 3.5 trillion rubles.[11][12][13]

The group’s net profit under IFRS amounted to 1.4 billion rubles in the first half of 2020. As of February 1, 2021, the bank’s net assets stood at 4.0 trillion rubles, with own funds of 0.5 trillion rubles; net profit for 2020 reached 2.2 billion rubles. By February 2022, the bank ranked sixth in Russia by net assets (4.219 trillion rubles).[14][15][16]

In 2023, the bank increased its IFRS net profit to 31.8 billion rubles. Over the same year, the group’s loan portfolio (before provisions) grew by 306.1 billion rubles (9.0 percent), reaching 3.7 trillion rubles. As of 2023, the bank ranked fifth among Russian banks by both total assets (4.54 trillion rubles) and capital (583.4 billion rubles).[17][18][19]

Net profit under IFRS amounted to 26 billion rubles in the first half of 2024, nearly 70 percent higher year-on-year. For the full year 2024, the bank reported a 25 percent increase in net profit, reaching 39.8 billion rubles.[20][21]

Sanctions

This bank has been sanctioned by the United Kingdom since 1 August 2014,[22] with additional sanctions in December 2023 which ban correspondent banking relationships.[23]

On February 24, 2022, US President Joe Biden imposed economic sanctions on RusAg and other Russian financial institutions in response to Russia's invasion of Ukraine.[24]

The European Union imposed full sanctions on RusAg in 2022. This included a full exclusion from the SWIFT network, having all its assets in the union frozen, restrictions on dealing with the bank, and a ban on financial services from EU firms.[25]

On 18 July 2025, the European Union imposed the 18th package of sanctions on Russia which caused UnionPay network cards issued card by RusAg to stop working in the EU from July 20 2025. These cards were one the most popular methods of payment abroad for Russians after the exit of Visa and Mastercard in 2022 whose cards issued in Russia ceased working abroad. Similarly, some foreign issued UnionPay cards also ceased working at RusAg terminals and ATMs in Russia.[26][27]

References

  1. ^ "Список аффилированных лиц". e-disclosure.ru. Retrieved 28 August 2017.
  2. ^ "Дмитрий Патрушев избран Председателем Наблюдательного совета РСХБ". РоссельхозБанк (in Russian). Retrieved 2023-04-05.
  3. ^ "Патрушев Дмитрий Николаевич - Петербургский диалог". petersburger-dialog.ru. Retrieved 2023-04-05.
  4. ^ "Дмитрий Патрушев". 24SMI (in Russian). Retrieved 2023-04-05.
  5. ^ "Глава РСХБ Борис Павлович Листов принял участие в заседании Совета по вопросам АПК и природопользования при СФ". Профиль (in Russian). Retrieved 2023-03-28.
  6. ^ "Борис Листов: Роль фермеров в жизни страны будет расти". ИА REGNUM (in Russian). Retrieved 2023-03-28.
  7. ^ "Глава Россельхозбанка Борис Павлович Листов рассказал о новых возможностях для производителей сельхозпродукции в условия второй волныимпортозамещения". newizv.ru (in Russian). Retrieved 2023-03-28.
  8. ^ "Борис Листов рассказал о росте показателей АПК". Российская газета. 2022-12-05. Retrieved 2023-03-28.
  9. ^ "Листов Борис Павлович | биография и последние новости". ФедералПресс (in Russian). Retrieved 2023-03-28.
  10. ^ "Крепкий сельскохозяйственник". www.kommersant.ru (in Russian). 2010-05-25. Retrieved 2025-12-27.
  11. ^ Исаев, Юрий (2023-06-08). "Крупнейшие банки 2023 года по объему активов (топ-50)". Бробанк (in Russian). Retrieved 2025-12-27.
  12. ^ "Борис Листов возглавил Россельхозбанк". РБК (in Russian). 2018-06-08. Retrieved 2025-12-27.
  13. ^ "Глава Минсельхоза Патрушев возглавил набсовет Россельхозбанка". РИА Новости (in Russian). 2018-07-25. Archived from the original on 2025-01-24. Retrieved 2025-12-27.
  14. ^ BFM.ru. "Россельхозбанк увеличит кредитный портфель на 200 млрд рублей". BFM.ru - деловой портал (in Russian). Retrieved 2025-12-27.
  15. ^ "Россельхозбанк горячая линия номер телефона, Россельхозбанк позвонить в контактный центр поддержки и сайт". www.banki.ru (in Russian). Retrieved 2025-12-27.
  16. ^ "Россельхозбанк заявил о 5 млрд рублей чистой прибыли по МСФО в 2022 году". Российская газета (in Russian). 2023-04-06. Retrieved 2025-12-27.
  17. ^ "Россельхозбанк увеличил годовую прибыль по МСФО до рекордных 31,8 млрд рублей". Коммерсантъ (in Russian). 2024-03-19. Retrieved 2025-12-27.
  18. ^ "Обобщенная консолидированная финансовая отчетность Акционерного общества «Российский Сельскохозяйственный банк» и его дочерних организаций за 2023 го и аудиторское заключение независимого аудитора".
  19. ^ "РСХБ увеличил годовую прибыль по МСФО в 4,3 раза до рекордных 31,8 млрд рублей". Интерфакс. 2024-03-19.
  20. ^ "Чистая прибыль группы РСХБ по МСФО в I полугодии выросла на 70%". TACC (in Russian). Retrieved 2025-12-27.
  21. ^ "Рейтинг банков | Банки.ру". www.banki.ru. Retrieved 2025-12-27.
  22. ^ "CONSOLIDATED LIST OF FINANCIAL SANCTIONS TARGETS IN THE UK" (PDF). 6 April 2022.
  23. ^ "Sanctions against Russia – a timeline". 19 December 2023.
  24. ^ "FACT SHEET: Joined by Allies and Partners, the United States Imposes Devastating Costs on Russia". The White House. 24 February 2022. Retrieved 25 February 2022.
  25. ^ Council Regulation (EU) 2022/879 of 3 June 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine, 2022-06-03, retrieved 2025-03-25
  26. ^ Lindblad (Sweden), Ben Smith (UK), Sven Bates (UK), Sophie Armstrong (UK), Anton (2025-07-21). "EU Adopts 18th EU Sanctions Package Against Russia and Introduces Additional Complimentary Measures Pursuant to Belarus Sanctions". Global Sanctions and Export Controls Blog. Retrieved 2025-08-17.{{cite web}}: CS1 maint: multiple names: authors list (link)
  27. ^ "Unpaid benefit: UnionPay cards of only one Russian bank work in Europe". Известия. 2025-07-23. Archived from the original on 2025-07-22. Retrieved 2025-08-17.
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