Loans to Russian farmers rise 13% to 142 bln rbl as of June 15

MOSCOW, Jun 19 (PRIME) -- Russian banks boosted loans to agricultural producers by 13.4% on the year to 141.87 billion rubles as of June 15, the Agriculture Ministry said in a statement on Monday.

Russian Agricultural Bank boosted lending by 38.4% to 118.20 billion rubles and Sberbank cut lending by 40.3% to 23.67 billion rubles.

In 2016, Russian banks provided 344.54 billion rubles of loans to agricultural producers for seasonal field works, including Russian Agricultural Bank providing 260 billion rubles of loans and Sberbank granting 84.54 billion rubles of loans.

According to the ministry’s estimates, the spring sowing campaign will cost 334.7 billion rubles, up 1.9% on the year. The sum includes 175.3 billion rubles of loans.

(57.7408 rubles – U.S. $1)

End