YEREVAN, March 14. / ARKA /. The Russian Agricultural Bank (Rosselkhozbank) that opened its office in Armenia last year, expects its overall loan portfolio to grow this year by 15.8% from the last year to 1 trillion 280 billion rubles. Speaking to reporters in Moscow, its chief executive officer Dmitry Patrushev said last year its loan portfolio grew by 16% to 1 trillion 105 billion rubles, RBC reports.

The office of the bank was registered in Armenia by its Central bank last October. The opening of the office in Yerevan was said to become the first step in establishing cooperation with between the bank and Armenia in the field of agriculture.

Patrushev said this year the bank will continue to focus on lending to agriculture, wood processing enterprises and fisheries. Last year these sectors received 385 billion rubles in loans.

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Armenia’s Central Bank said it registered the office of the Russian Agricultural Bank (Rosselkhozbank). The decision was signed by Central Bank chairman Arthur Javadian on October 16

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