Net loss of Rosselkhozbank in 2015 increased to 94.2 billion rubles from 47.9 billion rubles in 2014, according to a published reporting annually under IFRS. The increase in loss is due to the sharp decrease in net interest income, which in 2015 has decreased in 2,5 times and amounted to 23.9 billion rubles. in addition, Rosselkhozbank has increased the costs of forming reserves (90.4 bln rubles).
RAB in its press release, the reports points to the high cost of financial resources and the lack of available sources of funding. From July 2014 the Bank is under sectoral sanctions of the USA and may not attract funding in Western markets. In 2015 agricultural Bank actively attracted funds of clients, which for the year increased by 56.7% to 1.19 trillion rubles for that, the citizens have entrusted the agricultural Bank 486,5 billion rubles In 2014, the government has decided to spend 25 billion rubles on the Bank’s capital increase, and in 2015 the Bank increased its capital to 78.8 billion rubles at the expense of the DIA. Additional capital the Bank has attracted, placing subordinated bonds and deposits in the amount of 40 billion rubles and $1.15 billion respectively.
According to reports, in 2015 the agricultural Bank was able to increase fee and Commission income, which rose by 37.5% to 12.1 billion rubles. “The main drivers of growth in Commission income was the settlement operations, the implementation of insurance products, the guarantees,” the Bank said.
The cost of Rosselkhozbank on to management personnel decreased by 25% from 328 million rubles in 2014 to 246 million rubles in 2015 These costs include payments to members of the Supervisory Board, the management Board and chief accountant. In particular, the Supervisory Board, consisting of seven people, composed of the Minister of agriculture and food Alexander Tkachev. Chairman of the Board, which includes 8 senior managers, is the son of the former head of FSB Nikolay Patrushev — Dmitry Patrushev. In early January, the Association of Russian banks called Patrusheva Junior banker of the year. The jury of the nomination emphasized his work after the introduction of sanctions against Russia. Among the achievements of Dmitry Patrushev, the jury noted the results of the Bank “in key areas of the business, contributing to the development of the national economy, particularly the agro-industrial complex of Russia”.
The total credit portfolio of the Bank for the year increased from 1.41 to 1.62 trillion rubles For the crediting of agriculture in the agricultural portfolio accounted for 53% (948,9 billion rubles). The volume of problem loans in the portfolio of Rosselkhozbank last year increased by 23% to 254,7 billion rubles, while the share of loans overdue over 90 days increased from 13.3% to 14.1%. Stronger than all increased the share of loans overdue more than one year.
Rosselhozbank — the last of the state-owned banks, reporting in accordance with IFRS for the year 2015. Previously, its financial results have revealed VTB, Sberbank and Gazprombank. The latter has received in 2015 the loss at 47.7 billion rubles, which is 3.5 times more loss 2014. “The main reason for negative financial result of the group in 2015 is a significant growth of expenses on creation of reserves, caused by the deterioration of credit quality of assets”, — stated in the release of Gazprombank. The savings Bank following the results of last year net profit fell to 222,9 bn a Year earlier it stood at over 290 billion rubles, VTB has surprised analysts, showing a profit for 2015 to 1.7 billion rubles. the Consensus forecast pointed to losses at year end 600 million rubles to profit VTB could because of the revaluation of risks on loans that allowed him to save on the formation of reserves.