Supervisory council members assessed the results of the bank's credit operations in January-June 2010 and in the third quarter of 2010. The bank's credit portfolio reached 713.3 billion roubles by October 1, 2010. Mr Zubkov noted the need for expediting crediting operations for the acquisition of farming machinery, microloans for private farmers and loans for consumer cooperatives. "The credit products line needs to be expanded, loan application process should be shortened and client management skills improved," the First Deputy Prime Minister noted.

Supervisory council members also discussed measures to reduce the cost of the resource base and Rosselkhozbank's interest rate policy. The bank continued to cut its interest rates throughout the third quarter. Meeting participants noted that long-term loan interest rates had been reduced by an average of 1% this September, and that short-term interest rates had declined by 1-3%. "Highly affordable and competitive loan rates should be stipulated for agricultural producers," Zubkov said.

In conclusion, meeting participants approved the line-up of the supervisory council's committees and their heads. Deputy CEO of Gazprombank Alexander Sobol was placed in charge of the audits committee. Tatiana Kulkina, Head of Viktor Zubkov's Secretariat, will head the bank's strategic planning and development committee, and Deputy Vnesheconombank Chairman Anatoly Ballo will head the human resources and remuneration committee.