The agricultural Bank has decided to raise money from “defense”


Rosselkhozbank plans to engage in liabilities to 640-785 billion of funds in the defense-industrial complex by 2020, according to the updated strategy of the Bank for the future four years. “As a new direction the Bank plans to enhance the service of the state defense order. Will continue efforts to bring on customer service, working in the sphere of military-industrial complex”, said in a release from the Bank.

According to statements annually in accordance with IFRS for 9 months of 2015, the liabilities amount to 1.1 trillion rubles, most of it will account for funds of individuals — 421 billion roubles. Funds of the defence industry in the liabilities of the Bank are absent. After the deposits of citizens a substantial part of the attracted funds constitute funds of the state and public organizations — 280 billion rubles, pension funds 123 billion rubles, the industrial sector — 69 bn By 2020, the Bank plans to increase its customer liabilities to 1.6-1.9 trillion rubles That is at the expense of “defense” will account for about half of all liabilities.

According to the statements of Rosselkhozbank, the agriculture funds in the Bank amount to only 57 billion rubles According to the senior analyst Fitch Alexandra Danilova, the specificity of agriculture is that they tend not to keep in force a short cycle business. “If industrial enterprises can be a long time to be free money, they are not an agricultural force in cycles,” says Danilov.

This strategy can be related to the fact that the Bank now unavailable external financing, and the existing obligations have to suppress, suggests Daniel. “In view of the state status of Rosselkhozbank can expect to host in the accounts of funds of state-owned companies, especially given confirmed last year’s capital injection the state’s intention to support the Bank”, — said Danilov.

According to senior analyst NRA Karina Artemieva, now in the Russian banking sector there is no state Bank, close to the military-industrial complex, and it is not surprising that the storage of means of defence companies selected large state-owned Bank. “For RAB, it is very useful, because the tools of physicists, despite the cheap rates the RAB, the more expensive the Eureka funds,” she notes.

If the liabilities of the agricultural Bank will increase so greatly, the question remains, what will he lend on these funds, says Artemiev.

Now corporate loans in the Bank amount to 1.4 billion rubles, and loans to individuals — 283 billion rubles, According to the strategy, the Bank plans to increase credit portfolio up to 2.2-2.5 trillion rubles, of which the outstanding balance on loans to agriculture will amount to 1.4-1.6 trillion rubles.