19.03.2025

Russian Agricultural Bank has published the audited consolidated financial results for 2024 in accordance with International Financial Reporting Standards (IFRS).

Boris Listov, Chairman of the Management Board of Russian Agricultural Bank, noted that the 2024 results under International Financial Reporting Standards (IFRS) clearly demonstrated the efficiency of the bank's work in all key areas.

“25 years ago, the President of Russia instructed to form a national credit and financial system for servicing commodity producers in the agro-industrial sector. Today we can safely say that this system has been created and is successfully functioning. Over a quarter of a century, RSHB has allocated over 17 trillion rubles to the agro-industrial complex, having financed 6 thousand investment projects,” said Boris Listov.

The Chairman of the Board added that in 2024 Russian Agricultural Bank has also fully fulfilled the task of financing the agricultural sector. Issuance of soft loans to the agro-industrial complex by RSHB exceeded the level of 2023 by 30% and amounted to 732.3 billion rubles. The AIC loan portfolio in 2024 increased by 15.6% and exceeded RUB 2.47 trillion. “Even in a difficult economic environment, we have increased the pace of financial support and lending to the key area for the bank - the agro-industrial complex. The volume of loans issued to the agro-complex grew by 21%, and preferential financing of agrarians increased by 30%. Today, RSHB provides financing for 70% of seasonal field work in the country,” said Boris Listov.

Against the background of the loan portfolio growth, a high level of its quality was maintained. In particular, the share of overdue loans was reduced from 3.1% to 2.2%, and the Cost of Risk indicator for 2024 amounted to 0.8% against 1.2% for 2023.

The required volume and diversification of the resource base by sources and terms is maintained. Customer accounts increased by RUB 465.7 billion (+12.7%) to RUB 4.119 trillion by 2024. Funds of legal entities increased by RUB 225.5 billion (+13.1%) and amounted to RUB 1.949 trillion. Term deposits and current accounts of individuals increased by 240.1 billion rubles (+12.4%) to 2.171 trillion rubles.

The Group continued to increase its operating income, interest and commission income, as well as return on equity and assets, compared to 2023. “As a result, we approached the bank's anniversary with excellent results and achieved a net profit of RUB 39.8 billion. This exceeds the 2023 result by 25%,” Boris Listov, Chairman of the Management Board of Russian Agricultural Bank, told journalists.