State agriculture bank RSHB ups net profit 68%
MOSCOW. Oct 10 (Interfax) - Russian state agriculture bank Rosselkhozbank (RSHB) increased its net profit 68% year-on-year in January-September 2011 to 2.1 billion rubles, the bank said in a press release.
The bank obtained net profit of 1.3 billion rubles in the first half so net profit in the third quarter was 800 million rubles.
The RSHB loan portfolio grew 26% in January-September to 920 billion rubles. The loan portfolio grew 8%, or by 70 billion rubles, in the third quarter.
The personal loan portfolio climbed 53% to 129 billion rubles, including a rise of 20% in the third quarter.
The corporate loan portfolio went up 22% to 791 billion rubles.
Loans allocated as part of government agriculture support programs topped 300 billion rubles in January-September, up 20% year-on-year. Loans for seasonal fieldwork rose by more than 25% year-on-year to almost 120 billion rubles.
The volume of client funds raised by the bank increased 52%. Corporate funds went up by 63% (to 718 billion rubles) and personal funds went up 10% (to 138 billion rubles).
"Positive results for the main indicators were the result of steps to improve conditions for allocation of loan resources, product optimization and development of new products," the release says.
RSHB was ranked fourth by assets in the Interfax-100 review of Russia's banks for the first half of 2011. The review is compiled by the Interfax Center for Economic Analysis.