Russian Agricultural Bank
A Russian state-owned bank established to finance agriculture and the wider agro-industrial complex.
Last updated August 22, 2026
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Overview
Russian Agricultural Bank, commonly known as Rosselkhozbank or RusAg, is a Russian state-owned banking group focused on agriculture, food production, rural business and related parts of the agro-industrial economy. It was established on 15 March 2000 by decree of the acting president of the Russian Federation, Vladimir Putin, with a public-policy mandate to implement state credit and financial policy in the agribusiness sector. Its role is broader than that of a conventional specialist lender: the bank is intended to support agricultural producers, finance investment in production capacity and technology, and help maintain a national financial infrastructure for agriculture and rural economic activity. The bank provides corporate and retail banking services, including lending, deposits, payments and settlements, trade-finance products and other financial services. Its principal customers include agricultural enterprises, food processors, rural businesses, small companies and individual customers in agricultural regions. Agricultural lending remains its defining activity, covering working capital, seasonal operations, equipment, land and property-related needs, construction and longer-term investment. The bank also participates in state-supported and development-oriented financing programs connected with the Russian agro-industrial complex. Rosselkhozbank is regulated by the Bank of Russia and is wholly owned by the Russian state. According to the ownership structure described in public reporting, ordinary shares are held through the Federal Agency for State Property Management, while preference shares are held by the Russian Ministry of Finance and the Deposit Insurance Agency. This ownership model allows the institution to serve as a policy instrument as well as a commercial bank. The bank has received substantial state support over time, particularly in connection with losses and the financing needs of the agricultural sector, although its public reporting also describes a return to profitability after a period of losses. The group expanded its digital and non-lending activities during the 2020s. In 2020 it introduced the Svoe.Farming ecosystem, intended to help small agro-industrial businesses manage operations digitally and connect with services. The related Svoe Rodnoye marketplace supports the sale of farm products. By 2022, the wider Svoe ecosystem was described as bringing together more than 30 business services and sub-platforms, reflecting an effort to combine banking, business tools, commerce and agricultural data in a single environment. The bank is one of Russia's largest financial institutions by assets and capital. Publicly reported figures show substantial growth in its loan portfolio and profits in 2023 and 2024, although the institution's international financial access has been constrained by sanctions. The United Kingdom introduced sanctions in 2014 and expanded restrictions in 2023. The United States imposed measures against the bank on 24 February 2022, while the European Union introduced broad restrictions in 2022, including asset freezes, limits on financial dealings and exclusion from SWIFT. These measures have affected cross-border payments and the use of some payment-network cards outside Russia. Despite those constraints, Rosselkhozbank remains active in Russia and continues to occupy a central position in state-backed agricultural finance.
History
Agricultural credit in Russia has a long institutional history. Specialized lenders serving rural landowners and peasants existed by the late nineteenth century, and during the Soviet period a very large share of long-term lending was directed toward agriculture and related production. The modern Russian Agricultural Bank was created against this background and was intended to provide a dedicated financial institution for the country's agro-industrial complex. The bank was established on 15 March 2000 under a special decree issued by the acting president of the Russian Federation, Vladimir Putin. Its founding mandate was not limited to ordinary commercial banking. It was tasked with acting as an instrument of state credit and financial policy for agribusiness, supporting the performance of agricultural clients, investing in core businesses and technology, and helping form the national credit and financial system for agriculture. This mandate positioned the bank between a commercial lender and a state development institution. Rosselkhozbank is regulated by the Bank of Russia and is wholly state-owned. The Russian Federation exercises ownership through several state bodies: the Federal Agency for State Property Management holds the ordinary shares, while preference shares have been held by the Ministry of Finance and the Deposit Insurance Agency. The structure has enabled the government to provide capital support and direct the bank toward policy priorities. Since 2010, public reference material has described approximately 300 billion rubles in state support. The institution grew into one of Russia's largest banks. In January 2010 it was reported as ranking third among Russian banks by capital and fourth by net assets. The bank experienced losses under International Financial Reporting Standards from 2014, but the reported loss declined from 58.9 billion rubles to 19.5 billion rubles between 2014 and 2017. It returned to a reported quarterly profit in the first quarter of 2018. By June of that year it ranked fourth in Russia by assets, with assets reported at approximately 3.5 trillion rubles. During the late 2010s and early 2020s, the bank continued to expand its agricultural lending and broader banking operations. It served agribusiness companies and rural customers through loans, deposits, payments, settlements and trade finance. Its group structure and customer base also connected it with food processing, agricultural equipment, small enterprises and other parts of the food-production chain. In 2020, the bank launched Svoe.Farming, a digital ecosystem for small agro-industrial enterprises. The initiative was designed to provide business services and support the sale of farm products through the Svoe Rodnoye marketplace. By 2022, the ecosystem reportedly included more than 30 services and sub-platforms. Public financial reporting cited in reference material indicates that the group returned to sustained profitability during this period. It reported a 2020 IFRS net profit of 2.2 billion rubles and ranked sixth in Russia by net assets in February 2022. For 2023, reported IFRS net profit rose to 31.8 billion rubles, while the gross loan portfolio reached 3.7 trillion rubles after growth of 9 percent during the year. The bank was reported to rank fifth among Russian banks by assets and capital in 2023. It subsequently reported first-half 2024 net profit of 26 billion rubles and full-year 2024 net profit of 39.8 billion rubles. International sanctions have materially changed the bank's external operating environment. The United Kingdom sanctioned it from August 2014 and added restrictions in December 2023 that prohibited correspondent-banking relationships. On 24 February 2022, the United States imposed economic sanctions on the bank in response to Russia's invasion of Ukraine. The European Union introduced broad sanctions in 2022, including asset freezes, restrictions on dealings and financial services, and removal from the SWIFT network. Further European measures in 2025 affected the operation of UnionPay cards issued by the bank in the EU. Within Russia, however, Rosselkhozbank remains an active state-owned institution and a central channel for agricultural and rural finance.
- 2025
UnionPay restrictions affect card usage
[1]EU sanctions introduced in July affect the use of UnionPay cards issued by the bank in the European Union.
- 2024
Reported annual profit increases
[1]The bank reports a 25 percent increase in full-year net profit to 39.8 billion rubles.
- 2023
Profit and lending growth
[1]Reported IFRS net profit reaches 31.8 billion rubles and the gross loan portfolio reaches 3.7 trillion rubles.
- 2022
Expanded international sanctions
[1]The United States and European Union impose broad financial restrictions, including removal from SWIFT under EU measures.
- 2020
Svoe.Farming launches
[1]The bank introduces a digital ecosystem for small agro-industrial businesses, alongside the Svoe Rodnoye marketplace.
- 2018
Return to quarterly profitability
[1]The bank reports a net profit of 876 million rubles for the first quarter after several years of IFRS losses.
- 2014
United Kingdom sanctions begin
[1]The United Kingdom introduces sanctions against the bank.
- 2010
Ranks among Russia's largest banks
[1]Reference material places the bank third among Russian banks by capital and fourth by net assets in January 2010.
- 2000
Russian Agricultural Bank is established
[1]The bank is created on 15 March under a presidential decree to implement state credit and financial policy for Russia's agro-industrial complex.
Products and positioning
A state-owned policy-oriented bank specializing in agriculture, agribusiness and rural economic development.
Corporate lending · 2000
Agricultural and agribusiness loans
The bank's core offering is lending to agricultural producers and companies across the agro-industrial complex. Financing can support seasonal working capital, production, equipment, construction, technology and longer-term investment. This business reflects the institution's state mandate and distinguishes it from universal banks whose agricultural exposure is not their principal specialization.
Deposits
Deposits and savings
Rosselkhozbank offers deposit and savings products for corporate and individual customers. These services provide funding for the bank while giving agricultural businesses, rural enterprises and households access to conventional banking accounts and savings instruments.
Transaction banking
Payments, settlements and trade finance
The bank provides payment, settlement and trade-finance services for companies operating in agriculture, food processing and related sectors. These capabilities support domestic commercial flows and the purchasing, sale and movement of agricultural goods and inputs.
Agricultural technology and digital services · 2020
Svoe.Farming
Launched in 2020, Svoe.Farming is a digital ecosystem intended to help small agro-industrial enterprises manage business activities and access complementary services. It extends the bank's role beyond credit by combining financial and operational tools for smaller agricultural businesses.
Agricultural marketplace · 2020
Svoe Rodnoye
Svoe Rodnoye is a marketplace associated with the Svoe ecosystem that helps farm producers market and sell their products. It is part of the bank's effort to connect agricultural businesses with digital commerce and consumer access.
Retail payments
Payment cards
The bank issues payment cards for customers in Russia, including UnionPay cards referenced in reporting about international sanctions. Their availability and overseas usability have been affected by restrictions imposed on Russian financial institutions.
Brand decisions
2020
Launch the Svoe digital ecosystemProduct launchBackground
Small agricultural businesses needed digital tools and routes to market in addition to conventional financing.
Action taken
The bank launched Svoe.Farming and the related Svoe Rodnoye marketplace for agro-industrial businesses and farm products.
Aftermath
The ecosystem expanded into a broader collection of agricultural business services and sub-platforms, reportedly exceeding 30 services by 2022.
2000
Adopt a dedicated agricultural-finance mandateStrategyBackground
Russia sought a specialized institution capable of channeling state credit policy into agriculture and the wider agro-industrial complex.
Action taken
The bank was established with responsibility for supporting agricultural clients, investment, technology and the national agricultural financial system.
Aftermath
Agriculture and rural economic activity became the defining focus of the bank's business model and public role.
Recent events
- 2025
European Union sanctions affect UnionPay cards issued by the bank[1]
Regulation
Following the European Union's 18th sanctions package, UnionPay cards issued by Russian Agricultural Bank reportedly stopped working in the EU from 20 July 2025, while some foreign-issued UnionPay cards also stopped working at the bank's Russian terminals and ATMs.
- 2022
United States imposes sanctions on Russian Agricultural Bank[1]
Regulation
The United States included Russian Agricultural Bank among Russian financial institutions subject to economic sanctions following Russia's invasion of Ukraine.
- 2022
European Union introduces broad restrictions on Russian Agricultural Bank[1]
Regulation
European Union measures froze assets, restricted dealings and financial services, and excluded the bank from the SWIFT network.
- 2022
Svoe ecosystem expands agricultural digital services[1]
Product launch
The bank's Svoe ecosystem was reported to unite more than 30 business services and sub-platforms for agricultural and rural businesses.
- 2014
United Kingdom sanctions Russian Agricultural Bank[1]
Other
The United Kingdom introduced sanctions against Russian Agricultural Bank, restricting aspects of its access to international financial activity.
Sources2 sources
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