Rosselkhozbank opens office in Republic of Belarus in Minsk

MOSCOW, March 13 (Itar-Tass) - Rosselkhozbank (Russian Agriculture Bank) on Friday opened an office in Minsk, the press service of the credit institution said. First Deputy Chairman of Rosselkhozbank Management Board Stanislav Baranov took part in the opening ceremony.

The bank's office will be providing assistance in the establishment and development of business ties between Russian and Belarusian companies. Its tasks also include the promotion and support of Russian investment projects with the participation of Rosselkhozbank in Belarus.

The office will be developing relations with state bodies and representatives of the business community of Belarus, as well as with international organisations operating in the Belarusian territory.

OJSC Rosselkhozbank, along with its subsidiary, provides banking services to the Russian agribusiness sector. It offers lending, deposit taking, and cash settlement services. The company also offers bank guarantees, documentary operations, bank transfers, depository services, international payments, maintenance of accounts, and deposits insurance services. It serves individual and corporate clients. OJSC Rosselkhozbank was founded in 2000 and is based in Moscow, Russian Federation.

Rosselkhozbank has increased its charter capital by 45 billion roubles or 73.5 percent to 106.22 billion roubles. As the lending institution's press service reported, on February 27, 2009 the Central Bank of the Russian Federation registered a report on the additional share issue. So, Rosselkhozbank floated 45,000 shares with Rub 1 mln each via closed subscription in favour of the sole shareholder - the state (represented by the Federal Property Management Agency), Prime-Tass said earlier.

It said Russian PM Vladimir Putin said at a meeting devoted to additional measures to support the national agricultural sector in mid-December 2008 that Rosselkhozbank's charter capital would be raised by 45 billion roubles. He noted that this year the government already decided to up the lender's charter capital by 35 billion roubles. As the prime minister pointed out, additionally earmarked resources will be spent on expanding the scope of grain interventions and will enable the lending institution to raise additional financial resources to enlarge operations.



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