DUSHANBE, August 16, Asia-Plus — Open joint-stock company (OJSC) Rosselkhozbank (Russia’s state-controlled agricultural bank) intends to open its representative office in Tajikistan, PRIME-TASS said.
Such a decision has been made at a meeting of the bank’s supervisory board.
According to the Russian news agency, over the first six months of this year, Rosselkhozbank has provided loans for a total amount of 138 billion Russian rubles (RR), which is 20 percent more than in the same period of last year.
As of July 1, 2008, Rosselkhozbank’s loan portfolio has exceeded RR360 billion. Within the framework of implementation of the national agriculture development support development program designed for 2008-2012, the bank has provided 74,000 loans for a total amount of RR 115.6 billion. The bank’s capital rose 8 percent in the year to July 1, 2008, reaching RR51.6 billion.
Russia’s state-controlled agricultural bank, Rosselkhozbank, was established in 2000 to service Russia”s agrarian sector. The bank is on a list of the country”s top 30 banks published by the Central Bank of Russia
According to the National Bank of Tajikistan (NBT), VTB Bank applied to the NBT in October 2007 for permission to open its branch in Tajikistan. Besides, a number of banks from Pakistan, Germany, China, Kazakhstan and Germany as well as individual persons from Switzerland have applied to Tajik central bank for permission to open their affiliates in Tajikistan.
In 2008, the NBT granted operating licenses to closed joint-stock company (CJSC) Kazkommertzbank-Tajikistan, which is subsidiary of Kazakhstan’s joint-stock company (JSC) Kazkommertzbank, and CJSC Fononbank (former credit cooperative society KO Fonon that was upgraded into bank).
