Russian Agricultural Bank intends to triple or quadruple loan portfolio by 2020

Last November, chairman of the board and CEO of Russian Agricultural Bank Dmitry Patrushev announced the bank's plans to boost its loan portfolio to just 3.1 trillion rubles.

"We plan to increase the loan portfolio to the level of approximately 3 trillion rubles and increase the number of clients to 18 million by the end of 2020," he said at the time.

In January-September 2012, Russian Agricultural Bank's loan portfolio was worth 1.052 trillion rubles.

In line with its new strategy, the bank will squeeze its way into the triumvirate of top Russian banks by assets in 2020. According to the Interfax-100 ranking, Russian Agricultural Bank is currently Russia's fourth largest bank by assets.

Also by 2020, the bank intends to ramp up its return on equity to 6%, compared to 1.3% in 2011.

In addition, Russian Agricultural Bank anticipates growth in the cost-to-income ratio from 47.9% in 2011 to 50%-55% in 2020.

Established in 2000, the bank is currently the key lender to the domestic agricultural sector. Its shares are wholly owned by the Russian government.