Russian Agricultural Bank 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]