RSHB plans to launch pension fund, leasing, service companies by 2020
MOSCOW. Feb 12 (Interfax) - Russian agriculture bank Rosselkhozbank (RSHB) plans to launch a non-government pension fund, leasing and service companies by the end of 2020, shows the bank's new strategy to 2020, published on the RSHB website.
The strategy envisages that by the end of 2020 the RSHB group will include an investment (management) company, a pension fund, insurance company and service companies.
RSHB told Interfax that the group currently only has a management and insurance company.
The non-government pension fund will specialize in offering services to people in rural areas and small and mid-sized towns. The company said the fund "will help contribute to the growth of social and financial security" of the residents in these territories.
The planned leasing company will specialize in small and mid-sized business.
The service companies are expected to provide support and cooperation to small and mid-sized farmers and will "help centralize the purchase of necessary raw materials and the establishment of fair prices for agriculture products."
The RSHB affiliated parties list at the end of 2012 included LLC RSHB Asset Management. The SPARK Interfax database shows the company was registered in August 2012.
RSHB announced in September 2011 that it planned to create its own insurance company - RSHB-Insurance on the basis of GasGarant, part of the SOGAZ insurance group.
Rosselkhozbank was established in 2000 and it is currently the main creditor for Russia's agriculture sector. It is wholly owned by the state. The bank was ranked fourth by asset value in the Interfax-100 review of Russia's banks in 2012.