NOVO-OGAREVO, November 14 (Itar-Tass) — Rosselkhozbank (Russian Agricultural Bank) will have extra capitalisation worth 40 billion roubles, RF Finance Minister Anton Siluanov told reporters. “By the second reading we are going to prepare amendments on extra capitalisation of the Agricultural Bank in the amount of 40 billion roubles,” he said. The minister explained that “this is made to support the Agricultural Bank in a difficult situation; the money will be used for increasing loans to the rural population and improving the bank’s balance.”
Rosselkhozbank is the largest creditor for the Russian agricultural sector. The bank was established by the RF government in 2000 for the development of the national credit and financial system of the agro-industrial sector. In terms of the assets size, the bank is fourth in the country after Sberbank, VTB and Gazprom Bank.